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DTN reports that US fertilizer prices fell sharply in May as spring planting ended. Corn Belt anhydrous ammonia dropped to $475-$550 per short ton FOB from $750-$840 in April.
The article also notes DAP traded at a premium to MAP in late 2022 and early 2023 due to relative DAP shortages.
Lower nitrogen and phosphate costs ease input budgets for US corn and feed production. The seasonal decline is largely expected and does not change the grain supply outlook much.
dtnpf.comJun 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.
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.
