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The Trump Administration confirmed that major fertilizers will be exempt from tariffs, which StoneX's Josh Linville said pushed NOLA urea down 6-8%. Some suppliers had faced tariffs of 30% or more.
UAN and NH3 were little changed, and phosphate is expected to benefit from reopened Saudi flows.
Lower tariff costs make urea and phosphate cheaper to import into the US, easing spring input costs for livestock and crop producers. Nitrogen remains tight, so the relief is limited to urea and phosphate.
rfdtv.comTony St. James, RFD-TV NEWS STAFFNov 19, 2025After 81 past bearish trade events, Urea moved a median -1.0% over 5 sessions (28% higher; middle half -7.2% to +0.4%), and -5.5% over 20.
After 40 past bearish trade events, DAP moved a median -0.1% over 5 sessions (38% higher; middle half -3.7% to +0.5%), and -2.4% 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.
