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Brazilian urea slipped to $390-$400/mt from $405-$425 the prior week as slow demand set in during the shift from soybean harvest to corn planting. Potash was unchanged at $500-$520/mt, and MAP was steady.
Grain futures were mixed on the day, with corn and soybeans lower over the week and month to date.
Weak seasonal fertilizer demand in Brazil is reinforcing bearish nitrogen pricing, while softer grain futures reduce feed cost pressure in the near term.
admis.comADMIS Research TeamFeb 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.
