A fertilizer market expert says farmers should keep an eye on Europe and consider locking in some fertilizer purchases now.
Josh Linville with StoneX tells Brownfield that Yara International announced they will shut down a nitrogen fertilizer production plant in Italy. “This plant by itself isn’t enormous. I think it’s about 600-thousand ton of anhydrous and 600-thousand ton of urea. Big numbers, but on the global scale, it’s not that big. The thing that we’re worried about is that this is the start of a trend.”
Linville says natural gas prices have been holding steady in Europe, but the global price for urea has been falling, prompting Yara to cut production.