By Nick Paulson, Carl Zulauf, Gary Schnitkey and Jim Baltz, University of Illinois

In today’s farmdoc daily article, we look at how prices for major fertilizer products have trended consistently downward over the past year after peaking at historic highs in 2022. Demand destruction from high prices and market adjustments to the Russia-Ukraine conflict have been contributing factors in the decline. Moving forward, market expectations for 2024 and ongoing risks suggest considering the pricing of at least a portion of fertilizer needs for the upcoming year.

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