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Bloomberg reported that fertilizer prices are falling as farmers balk at high nutrient costs and hold off on purchases, creating inventory gluts in the US and Brazil. The New Orleans weekly urea index fell 3.2% on the latest Friday, extending a monthlong decline.
The same coverage also flags the Black Sea export deal and Mississippi River flows.
Weaker fertilizer demand and bloated inventories push nutrient prices lower, easing input costs for next season's crop. Lower fertilizer costs can support farm margins and eventually grain planting decisions.
farmpolicynews.illinois.eduKeith GoodOct 19, 2022Not 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.
Reports of a monthlong urea price slide at New Orleans as farmers balk at costs and inventory gluts build in the US and Brazil point to weak demand pressure that could feed a sharp one-day drop.
