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China is further restricting fertilizer exports, with curbs on urea and phosphates imposed earlier in June, according to people familiar with the matter. The aim is to contain domestic prices, lower farming costs and bolster grain security.
China is a major supplier of urea and phosphates, so tighter export controls reduce global supply and risk pushing up fertilizer prices, raising feed-grain production costs.
bloomberg.comHallie GuJun 24, 2024After 129 past bullish policy events, Urea moved a median -0.1% over 5 sessions (47% higher; middle half -1.3% to +2.3%), and +1.4% over 20.
After 151 past bullish policy events, DAP moved a median +0.0% over 5 sessions (50% higher; middle half -0.6% to +0.9%), and +1.9% over 20.
Not enough comparable past events yet for a historical read.
After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% 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.
