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Western Australia has reportedly run out of urea as unexpectedly heavy winter rains prompted farmers to start unplanned topdressing. Suppliers say they have enough stock for current orders, but there are concerns about supply if more rain arrives later in July.
Growers had earlier shown muted interest in urea because of dry-season concerns and a falling price.
A regional shortage of urea during peak topdressing can lift local nitrogen prices and tighten supply for growers. Because the tightness comes from a sudden demand surge rather than a global supply shift, the impact on international urea prices is likely to be limited.
farmweekly.com.auJasmine PeartJul 24, 2023After 30 past bullish weather events, Urea moved a median +1.4% over 5 sessions (67% higher; middle half -0.3% to +1.6%), and +9.1% 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.
