LONDON, October 19, 2017 /PRNewswire/ --
Despite a short-lived price rally in July 2017, global crop prices remain low, capped by large stock overhang and strong output. However, fertilizer demand has remained strong, with low fertilizer prices offsetting pressure from falling crop values.
CRU recently attended the 2017 Pro Farmer crop tour through the western US Corn Belt to better gauge prospects for 2017 crop yields and production, and the implications for 2018 fertilizer affordability and demand.
Overview of the crop tour
The 2017 Pro Farmer crop tour took place over August 20-24 with the aim of assessing production and yield potential of corn and soybean crops in the US Midwest, collecting corn samples and soybean pod counts to help determine potential output.
The seven states visited included South Dakota, Nebraska, Iowa, Minnesota, Ohio, Indiana and Illinois, with tour scouts split into two groups covering eastern and western routes. The states sampled account for around 60% and 50% of the US total harvested area of corn and soybeans respectively, highlighting the vital role the Midwest plays in crop production.
Read the full story: http://bit.ly/Fertilizer-prospects-for-2018
Read more about CRU: http://bit.ly/About_CRU
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