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The Green Markets North American Fertilizer Index fell 4% on Friday to $672.82 per short ton, its lowest level since June. Fertilizer prices have declined from 2022 records as gas costs and farmer demand both fell.
Lower gas costs and weaker farmer demand reduce fertilizer input prices, easing production costs for feed grain growers and lowering the cost outlook for corn and other crops.
bloomberg.comElizabeth ElkinJan 6, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
A 4% drop in the North American fertilizer index to a 19-month low on lower gas costs and weak farmer demand spread bearish sentiment across nitrogen markets.
