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UK spot nitrogen prices rose in July, with UK-produced ammonium nitrate averaging £353/t, up £9/t, and granular urea up £46/t to £397/t. UK feed wheat futures for November fell to their lowest level since June on larger Russian crop forecasts.
The USDA also reported better US maize and soybean crop ratings than expected.
Higher fertilizer costs raise production expenses for grain growers, while larger Russian wheat crops and better US crop ratings weigh on feed grain prices.
ahdb.org.ukAug 15, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
