As the 2021 corn and soybean crops are coming out of the fields, the supply situation for fertilizer and other chemicals is shaping up to make 2022 an expensive year for inputs.
 
The move by China earlier this week to ban phosphate exports until at least June of next year puts even more pressure on global phosphate trade. The U.S. doesn't buy much phosphate from China, but the country represents about 30% of world trade. Now China's traditional buyers will be looking elsewhere.
 
"And it just continues around the world as everyone goes other places to buy, and then they run out," said Josh Linville, director of fertilizer for StoneX. "The ripple effect is that the entire world trade balance goes down, and there's just not enough out there to go around."
 
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