Called my Agicore/Viterra/CPS buddy today. Asked him what fert prices were doing, he said N is climbing and will keep doing so.
He explained the word is that the market is 500,000 tonnes behind in farm booking for winter delivery and they won't be able to meet the spring demand.
I started laughing and said the farmers are supposed to be the whiners remember. For years it was the price of natural gas driving up N, then it was the high commodity prices, now natural gas is still in the tank, commodity prices suck, producers cant deliver grain and they want to boost the N price because they think demand in the spring will explode?
Who buys fertilizer when they cant get bins empty to store it?
He explained the word is that the market is 500,000 tonnes behind in farm booking for winter delivery and they won't be able to meet the spring demand.
I started laughing and said the farmers are supposed to be the whiners remember. For years it was the price of natural gas driving up N, then it was the high commodity prices, now natural gas is still in the tank, commodity prices suck, producers cant deliver grain and they want to boost the N price because they think demand in the spring will explode?
Who buys fertilizer when they cant get bins empty to store it?