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The World Bank's Pink Sheet reported that March 2023 fertilizer prices fell 3.6%, led by urea down 12.3% and MOP down 8.8%. Agricultural prices eased 1.6% and energy prices declined 6.3% over the month.
Broad declines in fertilizer and agricultural prices point to easing input costs and softer feed grain pricing pressure, reinforcing a bearish fertilizer outlook.
blogs.worldbank.orgJohn Baffes, Maria Hazel MacadangdangApr 7, 2023After 42 past bearish report events, Urea moved a median +0.3% over 5 sessions (57% higher; middle half -1.9% to +3.3%), and +2.9% over 20.
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.
