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A USDA Economic Research Service report says global fertilizer markets have been strained since Russia's 2022 invasion of Ukraine, with trade bans, quotas and duties affecting supply. It notes prices returned to pre-invasion levels after the April 2022 spike but remained above 2021 levels as of March 2023.
Elevated fertilizer costs, which account for a large share of grain operating expenses, can shape planting decisions and feed grain supply over time, but the report is background analysis rather than new price-moving news.
ers.usda.govSep 18, 2023After 26 past neutral report events, Urea moved a median -0.4% over 5 sessions (42% higher; middle half -4.1% to +1.5%), and +0.9% over 20.
After 38 past neutral report events, DAP moved a median +0.5% over 5 sessions (61% higher; middle half -0.5% to +1.6%), and +3.9% over 20.
Not 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.
