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Rabobank warned urea prices face substantial upside risk after production cuts tied to energy costs, including ammonia curtailments across European plants. China's hydropower shortfall is forcing power restrictions on urea plants, and government export controls have already pushed Chinese urea prices down from a June record.
Potash and phosphate costs are expected to ease.
Curtailed nitrogen output and constrained Chinese exports tighten global urea supply, supporting higher nitrogen input costs for feed grain and livestock producers. Lower potash and phosphate prices partly offset this.
grainpricenews.comMike VerdinSep 1, 2022After 129 past bullish policy events, Urea moved a median -0.1% over 5 sessions (47% higher; middle half -1.3% to +2.3%), and +1.4% over 20.
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.
