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Nitrogen Fertilizer Prices Are At a 10-Year Low

There's welcome relief for farmers managing fertilizer inputs on a tight budget next year. 
University of Illinois professor of farm management Gary Schnitkey says average nitrogen fertilizer prices have hit a 10-year low. 
"Just to give you a feel for that, we're looking at roughly $400 dollars of anhydrous ammonia in 2017, and that's even down considerably from last year at over $500 dollars per ton." 
He attributes the decrease to new anhydrous ammonia plants coming online and fewer U.S. corn acres. 
Schnitkey tells Brownfield he does not expect nitrogen prices to go up next year. 
"However, it's a commodity and anything can happen. We could see a supply cut for whatever reason that would increase those prices. I think something of a strategy of pricing about half of it now and half of it in the spring, sort of spreading the bet, wouldn't be a bad strategy." 
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