After crashing on international markets over the past few months, prices on most fertilizers appears to be stabilizing, with signs the market is creeping higher on seasonal demand.
Urea prices, the first to fall, also appear the first to move higher, with increases noted both in the U.S. and internationally. While prices out of the Black Sea for granular urea are up only a few dollars a ton since December, product at the Gulf is up $32.50, to $228.75. Prices at the farm gate level have fallen dramatically over the last few weeks, with Illinois dealers offering it at between $335 and $650 a ton, with the average at $464.12. Forward prices out of the Black Sea are about $27 a ton higher for February and March, suggesting a bottom is in.
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