
Chinese customs have begun subjecting ammonium sulphate exports to inspections, according to three fertilizer traders. Ammonium sulphate is one of China's largest fertilizer exports by volume and had been excluded from export restrictions introduced in March.
Tighter Chinese export checks reduce available supply of a significant fertilizer into a market already short of nitrogen and sulphur products, supporting higher fertilizer prices and feed-grain input costs.
After 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 480 past neutral trade events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), 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.