MARKET TALK: Nitrogen Fertilizer Prices Uncertain, Face Long-Term Pressure
10/30/2012| 01:46pm US/Eastern
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14:31 EDT - Nitrogen fertilizer prices for the first part of 2013 are uncertain, but don't expect wild swings, the University of Illinois says. Sees the current price of $853/ton climbing as high as $900 or low as $800 depending on how much corn farmers plant and the direction natural gas prices. But that pales in comparison to a swing from $1,151/ton in August 2008 to just $428 a year later. U of I says much higher prices are tough to envision barring "some world event." Adds that despite near-term stability, long-term various projects to expand industry capacity will weigh on prices. (ian.berry@dowjones.com; @enberry)
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