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Nutrient prices surged in early February 2021 to multi-year highs, with some products up triple digits. Adding $35 to $40 per acre to typical corn fertilizer costs, the rally followed anti-dumping tariffs on Moroccan and Russian phosphate and a sharp rise in sulfur prices.
Heavy fall application had drained US inventories.
Rising nitrogen and phosphate costs increase corn production expenses and can shift acreage and input decisions, supporting higher prices for feed grains.
farmprogress.comBryce KnorrFeb 9, 2021After 176 past bullish trade events, UREA moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +2.4%), and +1.6% over 20.
After 193 past bullish trade events, DAP moved a median +0.4% over 5 sessions (54% higher; middle half -0.3% to +1.8%), and +1.9% 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.
