Delivering Value through Organic and Tuck-in Growth
24
24
Potash and Phosphate Application Economics
N
Fertilizer costs have increased but remain well below the average yield gain from application; which we believe will incentivize
application of potash and phosphate
Potash¹
bu/acre of Corn to purchase 1 acre of Potash application
16
14
12
10
8
9
4
2
bu/acre of Corn to purchase 1 acre of Phosphate application
Phosphate¹
16
Historical
Historical
-- Average
Yield Gain from Potash (Avg)
14
12
10
8
4
2
Average
-Yield Gain from Phosphate (Avg)
0
0
Jan-07
Jan-09
Jan-11
Jan-13
Jan-15
Jan-17
Jan-19 Jan-21
Jan-07
Jan-09
Jan-11
Jan-13
Jan-15
Jan-17 Jan-19 Jan-21
March 2022
Source: USDA, Fertilizer Week, Bloomberg, TFI Soil Test Levels in North America, Nutrien
1.
The Potash and Phosphate Cost in bushels/acre is calculated by dividing the monthly average spot nutrient cost per acre by the new crop corn futures prices. The Yield Gain from Potash and Phosphate are based
on the weighted average yield gain in the top 5 corn producing states based on current soil test level information.View entire presentation