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Global fertilizer demand is growing even as supplies tighten from production problems. European natural gas, which peaked near $90-100/MMBtu in August, has stabilized around $40, and the EU has shut roughly half of its nitrogen capacity.
Persistent high gas costs and European plant shutdowns keep nitrogen supply constrained, supporting fertilizer prices into 2023.
producer.comMike RaineDec 8, 2022After 92 past bullish macro events, Urea moved a median +0.0% over 5 sessions (50% higher; middle half -2.0% to +3.6%), and +4.8% over 20.
After 37 past neutral macro events, Natural Gas moved a median -0.1% over 5 sessions (49% higher; middle half -4.2% to +12.9%), and -1.1% over 20.
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.
