Analysts at Rabobank don't see immediate impacts on U.S. planted acreage from higher fertilizer prices. The agricultural lender's outlook also projects more corn planting than USDA's initial forecast. Still, the war-driven price shocks on fertilizer will more immediately disrupt agriculture in developing countries and could have long-term impacts on chemical inputs.
Given the wide range of pre-report estimates, Friday's March 1 USDA Cattle on Feed report could potentially bear some challenging news for the market, according to DTN Livestock Analyst ShayLe Stewart.
As global fuel and fertilizer prices face a shock to the system, farmers have seen prices for nitrogen and phosphate fertilizers rise sharply as a result. While a large number of commodity farmers would typically have fertilizer pre-purchased, that likely isn't the case this year.
At the Iowa Renewable Fuels Summit on Thursday, E15 was the main topic of the day, though carbon pipelines also had their moment, along with the 45Z tax credit and the unrealized prospects of both maritime and sustainable aviation fuels.