Loading…
Illinois soil moisture was adequate after a wet winter, and the winter wheat crop had recovered well despite dry planting. Crop insurance premiums were expected to fall $3-6 per acre because implied volatility was low.
Fertilizer prices were continuing to trend lower.
Falling fertilizer prices lower input costs for growers and point to softer nitrogen demand pricing, while lower insurance premiums and low volatility signal a calm market outlook.
soyagrainsalliance.orgKatelyn EngquistFeb 14, 2023After 37 past weather events, Urea moved a median +1.4% over 5 sessions (73% higher; middle half -0.1% to +1.6%), and +5.6% over 20.
After 29 past neutral weather events, Wheat (HRW) moved a median +0.6% over 5 sessions (52% higher; middle half -1.9% to +2.3%), and -0.7% 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.
