Urea price plunge spurs Argentine wheat refertilization and corn expansion

A sharp 25‑30% decline in urea prices – from about $950 to $650‑700 per tonne – has reshaped planting decisions in Argentina’s core grain region. The lower cost is prompting many wheat growers to plan a large‑scale refertilization in August, although the planted wheat area remains fixed and is not expected to increase.

Corn producers see the cheaper nitrogen as a catalyst to expand acreage, with some farms targeting a 20% increase over the previous season and the possibility of surpassing the 2.3 million‑hectare record set last year. Sales of fertilizer have risen in locales such as Carlos Pellegrini, María Susana, Bigand and Aldao, where growers will monitor weather conditions before applying additional nitrogen. Despite the price relief, wheat margins stay under pressure due to an 8% drop in expected harvest prices and higher labor costs, leaving net projections at $86 ha for owned land and $106 ha for rented plots.