Fertilizer prices this fall have started to decline since this time last year. Overall, fertilizer prices have dropped almost 66% since their all time highs but are still about 20% higher than pre- COVID levels in 2019. For farmers this is good news because fertilizer is a major cost. However, grain prices and fertilizer prices tend to correlate which means they travel in the same direction. Grain prices are declining also. Generally, fertilizer prices follow the grain price, so it is not all good news. Why are fertilizer prices falling? Fertilizer production is a global industry. Russia is a major exporter of fertilizer, and the Ukraine-Russia war caused fertilizer prices to soar. For the United States, we had to find new supplies and new input sources. Canada stepped in and started producing more fertilizer, especially potash or potassium fertilizer, so prices have declined. Russia and Belarus are major exporters of fertilizer. Although government sanctions were imposed on thei...