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In February, the US nitrogen fertilizer price spread rebalanced as urea, UAN and anhydrous ammonia offers fell in New Orleans. Corn Belt anhydrous ammonia prices dropped to $795-$840 per short ton from winter-fill offers of $950-$1,100.
The decline followed weak global urea demand and lower European natural gas costs.
Lower nitrogen offers ahead of spring preplant application reduce farm input costs for US corn growers. The price reset signals softer nitrogen markets into the planting season.
dtnpf.comDTN Progressive FarmerApr 1, 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.
