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Urea prices fell across the globe in November, with US landed domestic prices declining as seasonal demand slowed and traders looked abroad for direction. Ammonia spot prices held flat in the US Corn Belt at $700-725/short ton FOB as deliveries ran on previously booked tons.
Heavy global nitrogen supply and weak demand relative to poor crop prices kept fertilizer affordability low, which points to continued softness in urea and ammonia prices for buyers.
dtnpf.comDTN Progressive FarmerJan 1, 2024Not 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.
