Good point about the EDTA used to chelate the iron, but it's a pretty stable chemical, so unless you store it warm and exposed to light, not much should happen.
Some one at Clemson did a study on that, and showed that dark storage = no degradation, while when exposed to 3500 fc of light, 90% of the FE-EDTA degraded in 10 days. Doubling the light intensity doubled the rate, as did increasing the temperature from 68°F to 104°.
I have not heard that about the MSU formulas, but have two comments:
1) The minerals used in them are not unique, so the same could be the case with others.
2) Why would anyone store any fertilizer powder open to the air?
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