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Fertilizer prices have fallen sharply relative to grain prices, with the New Orleans urea barge price at $300 per tonne in late February, down from $925 a year earlier. StoneX's Josh Linville said farmers are using less canola and corn to buy urea than at almost any time in 25 years.
Ratios vary by region.
Urea affordability has improved markedly against crop values, which may support higher application rates and firmer demand for nitrogen. The cheaper input cost does not change grain prices directly but reflects a sharp decline in urea prices.
ukragroconsult.comMar 8, 2023Not 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.
