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US natural gas futures settled 1.7% lower at $2.51 per mmBtu on the last trading day of 2023. The contract fell about 44% over the year, its biggest annual drop since 2006, on record output and ample storage.
Record production and full storage keep natural gas prices weak, which lowers costs for gas-fired fertilizer and grain drying. The bearish energy backdrop is a mild negative for input costs across feed.
brecorder.comReutersDec 30, 2023Not 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.
