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A RaboResearch report says global fertilizer demand has not sustained the 2023 recovery and remains sluggish. Its affordability index is expected to turn negative within months as farm margins are squeezed by low crop prices, with nitrogen and phosphate prices still above historical averages.
Weak fertilizer demand and poor affordability signal reduced application rates, which can soften fertilizer prices. Lower farm margins from weak grain prices also weigh on input purchasing.
worldfertilizer.comOliver KleinschmidtSep 11, 2024After 42 past bearish report events, Urea moved a median +0.3% over 5 sessions (57% higher; middle half -1.9% to +3.3%), and +2.9% over 20.
After 35 past bearish report events, DAP moved a median 0.0% over 5 sessions (37% higher; middle half -0.7% to +1.5%), and +0.6% over 20.
Not enough comparable past events yet for a historical read.
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.
