The standoff between farmers and their fertilizer dealers may finally be coming to an end. New data on fall prices shows they've fallen dramatically from this spring's levels, reflecting the break in international values.
Many dealers bought nutrients at sharply higher prices last fall, and continued to pass that cost onto farmers as they struggled to avoid writing down inventory. While farmers with access to fresh supplies sometimes paid far lower prices, most producers were forced to pay up or cut back on applications this spring.
Fertilizer prices typically make a seasonal bottom in July, after farmers are done applying product on crops. Fewer deals may be available on excess inventory this year because dealers avoided restocking without firm orders.
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