By Angie Rolheiser

Agriculture Roundup for Monday January 31, 2022

Jan 31, 2022 | 11:45 AM

MELFORT, Sask. — There has been unprecedented volatility in the price of Urea.

The fertilizer price in New Orleans hit a record $810 USD a tonne on Nov. 12.

That capped an astronomical 348 per cent increase since May of 2020 when a tonne of Urea was $182 USD.

Since November, Urea prices at New Orleans had fallen to $540 USD a tonne last week but it has been a bumpy ride.

Josh Linville, director of Fertilizer with Stone X in Missouri, said he has never seen anything like it.

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“We have seen over $500 to $600 volatility since the middle of November and the net result is that prices have dropped 42 per cent of about $300 a tonne USD,” Linville said.

Linville said there could be more demand shifting to Urea because it’s much cheaper than U.A.N. and anhydrous.

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Recent trade agreements are being credited for an increase in Canadian beef exports.

Fawn Jackson is the director of Policy and International Relations with the Canadian Cattlemen’s Association.

“Beef exports were up in volume by 22 percent and 39 percent in value from January to November so even though we don’t have the full year data all the way to December I can tell you that we are hitting a new record this year,” Jackson said. “We have been hitting records since 2016.”

One challenge right now is China. China stopped imports following an atypical BSE case in Alberta late last year.

Jackson said it’s the usual method of response for China.

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angie.rolheiser@pattisonmedia.com

On Twitter: @Angie_Rolheiser