
CF Industries and Nutrien Q4 outlooks maintain that strong global demand and tight supply will support nitrogen prices. US nitrogen net imports in the first half of the 2024/25 fertiliser year are down 60% versus the five-year average, and strong US corn plantings are expected to support demand.
Tight US nitrogen imports and strong corn plantings support higher nitrogen prices, which raise feed grain production costs. Canadian nitrogen prices should follow US strength.
After 76 past bullish report events, UREA moved a median 0.0% over 5 sessions (49% higher; middle half -2.2% to +2.9%), and -0.3% over 20.
After 770 past neutral report 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.