By Kevin Athearn
Nitrogen fertilizer prices have risen sharply. The increase in cost of a key input for corn production has implications for planted acreage, yields, corn price outlook, and profit margins.
Fertilizer Prices
As shown in Figure 1, the retail price of nitrogen fertilizer has spiked upward in recent weeks. The reported average retail price for urea in midwestern states during the week ending March 13th ($674/ton) was 12% higher than a month ago and 23% higher than a year ago. The retail price for UAN28 during the week ending March 13th ($464/ton) was 13% higher than a month ago and 31% higher than a year ago (Quinn, 2026; MyDTN). Quotes from North Florida fertilizer suppliers confirm similar increases.
The most recent spike in fertilizer prices is attributed to the US-Israel war on Iran and Iran’s threats to shipping through the Strait of Hormuz. Iran, Qatar, Saudi Arabia and Egypt are major exporters of nitrogen fertilizer, and the Strait of Hormuz is an important shipping corridor for fertilizer and petroleum (Morgan, 2026b).
Source : ufl.edu