Hurricane Milton appears to be on a collision course with the west coast of Florida, the epicenter for phosphate production. It is three or four weeks before the fall applications begin, and much of the product is stored in this area.

Josh Linville, vice president of fertilizer at StoneX, said the price of phosphate is already high compared to grain prices and inventories are already tight. The storm threatens to drive up prices further and extend availability timelines.

Linville doesn’t expect there will be concerns about price changes for producers who have already locked in their orders.

The fertilizer markets have seen some volatility this year. Urea prices have spiked around the world due to short supply. Potash remains price stable and well supplied for the time being. However, Linville adds the producers waiting until the last minute may drive up prices.

Read more on Hurricane Milton’s potential impact on phosphate production here.