Why are prices so high? “In the last 24 months we have seen a stupid number of black swans,” says Josh Linville, director of fertilizer for StoneX. Even though the U.S. produces a large amount of nitrogen and phosphate fertilizers, we still import nearly 20% of our fertilizer needs, and the global market is shaky to say the least. For 2023, plan on fertilizer being an even bigger chunk of your production costs.