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Argus reports that nitrogen fertilizer activity in Argentina is slowing, with few offers and only one-off deals expected until October. Recent granular urea business was reported at $420-430/t CFR, and prices are likely to have risen to about $445-455/t CFR.
Argentine granular urea imports fell 28% and ammonium sulphate purchases are expected to pick up in Paraguay in October.
Higher Southern Cone urea prices and thin offers raise fertilizer costs for South American corn growers, which could shift acreage toward soybeans and affect regional corn supply.
argusmedia.comAuthor ArgusSep 28, 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.
