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Urea prices have fallen sharply from 2022 record highs, now worth about a third of last year's level and back to pre-invasion levels, per CRU analyst Chris Lawson. Benchmarks dropped from above $1,000/t to below $300/t over the past year, with Russia still exporting ample supply.
Cheaper nitrogen lowers farmers' input costs and may support corn and feed grain acreage economics, while the price floor is nearing. Downward pressure on urea reduces cost pressure on grain production.
abc.net.auMatt BrannApr 29, 2023Not 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.
