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StoneX fertilizer analyst Josh Linville said 2023 fertilizer prices are heading in the right direction but remain driven by Russia's invasion of Ukraine, sanctions and natural gas. He noted the corn-to-urea price ratio was the lowest since 2018 and European gas had fallen about 80% from its peak.
A low corn-to-urea ratio improves the affordability of nitrogen for producers, which can support corn planting and supply, while falling gas costs point to lower nitrogen prices ahead.
michiganfarmnews.comDennis Rudat, Farm News MediaFeb 6, 2023Not enough comparable past events yet for a historical read.
Not 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.
