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Argus Media expects urea prices to fall over the next couple of months due to limited demand, then steady through the first quarter of 2024. Prices are forecast to rise in the second quarter as seasonal demand builds in the United States and European Union.
Near-term softness in nitrogen costs benefits feed and livestock input budgets, but the expected spring seasonal rally could lift fertilizer and grain production costs later in 2024.
producer.comsaskatoonnewsroomDec 1, 2023After 42 past bearish report events, Urea moved a median +0.3% over 5 sessions (57% higher; middle half -1.9% to +3.3%), and +2.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
