OMAHA (DTN) -- The Iowa Corn Growers Association is pressing the U.S. Justice Department to continue pursuing a potential investigation into commercial fertilizer companies over fertilizer prices.

Bloomberg reported Wednesday that the Justice Department is examining whether major fertilizer companies have colluded to raise prices for nitrogen, phosphate and potash. The Bloomberg report cited the investigation is looking at CF Industries, Koch Inc., Mosaic, Nutrien and Yara International. Those companies are the dominant suppliers of fertilizer products in the United States.

Pointing to the Bloomberg report, the Iowa Corn Growers Association noted, "Attention must be brought to better understand fertilizer pricing practices, tariffs and the consolidation of the market that significantly impacts corn farmers' bottom line. ICGA will continue to work for fairness and transparency within the fertilizer industry that American farmers deserve."

The potential probe comes as the global fertilizer industry sees increased volatility tied to the U.S.-Israel attacks on Iran, and Iran's retaliation in the Middle East. The Strait of Hormuz is a critical shipping lane for several fertilizers, as well as petroleum and natural gas. The Fertilizer Institute released an analysis showing disruptions in the Strait of Hormuz could disrupt roughly 30% of global anhydrous ammonia and nearly 50% of urea shipping, as well as 30% of diammonium phosphate (DAP), the most widely used phosphorus fertilizer.

The Fertilizer Institute did not immediately respond to questions about the Bloomberg report.

Bloomberg cited unnamed sources that said an antitrust investigation is being run out of DOJ's Chicago office and the probe is in its early stages.

Last month, both ICGA and the Texas Corn Producers Association sent separate letters to Attorney General Pam Bondi seeking information about what DOJ is doing to pursue possible antitrust actions against the fertilizer industry. As DTN noted, the letters reflect farmers' growing frustrations over lower crop returns while fertilizer prices continue to remain high.

FERTILIZER PRICES TRACKING HIGHER

DTN's weekly Retail Fertilizer Trends column continues to show seven of eight major fertilizer products used by farmers are tracking higher than last month. Looking back during the past year, anhydrous ammonia prices are more than 15% higher than they were a year ago but the crop insurance protection price for corn finished February below last year's protection level. DAP is nearly 12% higher than a year ago as well.

ICGA also highlighted the group's written testimony to the U.S. Senate Judiciary Committee last October when senators held a hearing examining competition in the seed and fertilizer industries.

Mark Mueller, an Iowa farmer and president of ICGA, said at the time, "Growers across the country are facing an impossible decision: buy fertilizer or stay solvent."

Mueller's testimony highlighted that Mosaic controls about 80% of the U.S. phosphorus market, while Mosaic and Nutrien combined control about 90% of the potash market. CF, Koch and Nutrien also control more than 70% of the nitrogen market.

At Commodity Classic last week, growers also lamented to DTN that they have started to see input costs begin to rise again just as USDA began to issue $11 billion in Farmer Bridge Assistance (FBA) payments at the end of February.

Before the war began, USDA economists released net farm income projections for 2026 that suggested farmers would pay slightly less for fertilizer in 2026 -- a 1.4% decline from 2025.

See related DTN stories:

-- "Seven of Eight Major Fertilizers are Higher Priced to End February," https://www.dtnpf.com/…

-- "Corn Growers Push Fertilizer Probe," https://www.dtnpf.com/…

-- "Senators Probe Market Power Behind Rising Seed and Fertilizer Costs," https://www.dtnpf.com/…

Chris Clayton can be reached at Chris.Clayton@dtn.com

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