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The recent fertilizer market may be best described by two catch phrases: “wait-and-see” and “just in time.” In the fall of 2021, sky-rocketing energy prices pointed toward looming inflation and an inevitable rise in fertilizer prices. Many savvy growers, including those aligned with the regen ag movement, hedged their bets by purchasing crop nutrients that fall for the 2022 growing season. Fertilizer prices spiked to record levels in the spring of 2022, due to inflation, supply chain issues, labor issues and the war in Ukraine.