Video: Fertilizer Prices, Rates, and Costs for 2023While fertilizer prices have declined since spring, fertilizer prices remain high, and fertilizer costs are significantly higher than a year ago. Therefore, reducing rates where practicable seems prudent. Some fields will have soil test levels above those that will cause a yield response from phosphorus and potassium applications. Significantly reducing or eliminating applications in these fields is economically prudent. Moreover, nitrogen applications above university recommendations can substantially reduce returns. Changes in nitrogen prices from now to spring likely will be influenced by changes in corn and natural gas prices.
Schnitkey, G., N. Paulson, C. Zulauf, K. Swanson and J. Baltz. "Fertilizer Prices, Rates, and Costs for 2023." farmdoc daily (12):148, Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign, September 27, 2022.