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US Agriculture Secretary Brook Rollins said she is exploring options to keep fertilizer costs down ahead of spring planting. She said an announcement on solutions is close but gave no specific measures.
Urea at New Orleans rose from $585/st on 6 March to $645/st, and about 25pc of US growers had not yet booked fertilizer.
Possible government intervention could cap or offset nitrogen price gains, but unbooked demand keeps spring urea buying exposed to further price increases. Corn and soybean planting mix decisions depend on the outcome.
argusmedia.comCalder Jett, Sneha KumarMar 25, 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.
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.
