Loading…
CN and CPKC embargoed shipments of certain hazardous products, including ammonia used in agricultural fertilizer and chloropicrin used to fumigate stored grain. The embargo was a first step in a phased shutdown ahead of a possible strike.
Further embargoes were expected if labor talks failed.
Ammonia embargoes can tighten nitrogen fertilizer supply in North America, supporting urea and related prices heading into application season. The risk is limited unless the embargo widens or the strike proceeds.
woodlandgroup.comSep 29, 2023After 49 past bullish logistics events, Urea moved a median -0.3% over 5 sessions (45% higher; middle half -1.3% to +2.2%), and -0.4% 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.
