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Urea futures fell to $415 per tonne, the lowest since June 2021, as farmers had ample supply and large inventories. Cheaper European natural gas allowed manufacturers to restart production, and India bought discounted Russian fertilizer.
Lower urea prices reduce input costs for corn and other grain producers, with downside pressure continuing while supply remains ample and demand is subdued.
tradingview.comJan 30, 2023Not 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.
