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The AMIS October Market Monitor reports fertilizer prices were mostly higher in September, with ammonia surging on plant outages and European gas futures supported by Norwegian maintenance extensions. Urea gains were tied to Chinese export license limits and Indian purchases.
Higher ammonia and natural gas costs raise nitrogen production costs, supporting fertilizer prices into fall application and tightening the input outlook for feed producers.
farmpolicynews.illinois.eduKeith GoodOct 8, 2023After 76 past bullish report events, Urea moved a median 0.0% over 5 sessions (49% higher; middle half -2.2% to +2.9%), and -0.3% over 20.
After 74 past bullish report events, Natural Gas moved a median +1.3% over 5 sessions (55% higher; middle half -4.0% to +11.3%), and +2.1% 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.
