Corn acreage, fertilizer in pricey tango
“With that type of market outlook for grains, many farmers didn’t pre-order or book urea in advance,” Stiles said. “So the fertilizer retail community didn't purchase excess amounts of urea.”
Gulf urea prices hit bottom Jan. 24 “and now it’s increased nine of the last 10 weeks,” Stiles said.
There is some light at the end of the tunnel.
“In economics we say ‘nothing cures high prices like high prices’," he said. “ I can assure you today's prices are calling in product from all corners of the globe.
“Industry sources confirm there is a lot of urea on the way to New Orleans, some arriving this month,” he said. “It's going to be a painful wait, but this hysteria should be nearing an end by late May, but that's no consolation to the growers that will need urea between now and then.”
Griffin also said he hadn’t heard of any urea shortages in his county.