The Phosphate Squeeze and the Nitrogen Volatility of 2025
The road to the current 2026 crisis began in late 2024 and intensified throughout 2025 as several geopolitical and environmental factors converged. Nitrogen prices have remained volatile, driven by a spike in U.S. natural gas benchmarks as liquefied natural gas (LNG) export capacity expanded significantly in late 2025. This domestic energy demand has lifted the baseline cost for anhydrous ammonia, which is currently trading in the $750–$800 per ton range. Furthermore, liquid nitrogen (UAN) has seen a staggering 25% to 50% price increase year-over-year due to rising logistics and processing overheads.
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https://markets.chroniclejournal.co...gricultural-tech-revolution-heading-into-2026