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| Liquid UAN is manufactured and mostly shipped at 32%. The 28% you are reffering to is cut with 12.5% water so it will store under cold conditions as is common to the midwest.
I highly dought it costs $96 per ton to make 28%. And, so what if it does? You don't expect a manufacturer to sell something at cost in an extremely bull market do you?
Currently, the scare is how high will it go. Retailers are trying to secure positions on UAN with the speculation that it will only go up. Most retailers purchase inputs right now. A retailer hopes the price goes up after they purchase so they can capture market appreciation. That is also what is driving the price.
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Competition for fertilzer . . .is this why prices are higher?
