Loading…
US urea buying spiked last week after Mississippi River flooding led to lock closures and barge restrictions that limited imported urea reaching the Corn Belt. Northern Hemisphere demand has since eased, and a Middle East to Australia urea cargo fixed at $330/t FOB, lifting the regional benchmark.
Most other fertilizer benchmarks declined, and US retail phosphate and potash prices were mixed.
Barge disruptions temporarily tightened urea logistics into the US, but that support may fade once the river reopens and demand slows. Weak Northern Hemisphere demand keeps the broader nitrogen trend soft for feed grain input costs.
farmingportal.co.zaApr 22, 2023After 64 past logistics events, Urea moved a median -0.3% over 5 sessions (48% higher; middle half -1.0% to +2.3%), and -0.3% 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.
