It could be the lull before the storm.
“Not a lot is happening in the fertilizer market right now as it is one of the slowest times of year for it,” said Todd Bergen-Henengouwen of Alberta Agriculture and Forestry. “There has been little trading as fertilizer buyers in the U.S. continue to wait for the fertilizer market to bottom out before they start building up their stocks for the 2016 seeding season. As one would expect, fertilizer prices have been falling since the end of autumn.”
Nitrogen fertilizer prices are currently below the five-year average for this time of year while phosphate is above the five-year average.
“Nitrogen-based fertilizers are likely being pressured by low energy prices as well as by lower commodity prices,” said Bergen-Henengouwen. “Higher-than-average phosphate prices are likely being held up by the weak Canadian dollar when compared to the U.S. dollar.”
Historically, fertilizer prices are the lowest in the December/January months and begin to rise as spring approaches.
“It might not be a bad idea to start considering your fertilizer needs for next year if bin space is available,” he said.