A fertilizer composition, comprising solid granules each including a homogeneous blend of ammonium sulfate, a water insoluble oxide of a micronutrient metal, and a water-soluble sulfate of the micronutrient metal. A method of forming a fertilizer composition, comprising the steps of: combining ammonium sulfate and a water insoluble oxide of a micronutrient metal; granulating the ammonium sulfate and water insoluble oxide of the micronutrient metal in the presence of a liquid to initiate reaction of a portion of the ammonium sulfate with a portion of the water insoluble oxide of the micronutrient metal to form ammonia and a water-soluble sulfate of the micronutrient metal; and producing a fertilizer composition in the form of solid fertilizer granules each comprising a homogeneous blend of ammonium sulfate, the water insoluble oxide of the micronutrient metal, and the water-soluble sulfate of the micronutrient metal.