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Urea prices at New Orleans have fallen to about $500 a ton, close to the summer low and well below September's $700. US farmers are not seeing much of the decline locally because of river logistics problems.
Phosphorus and potash supplies are adequate for fall application, though prices have fallen since April.
Global demand is weak and supplies from Russia, China and Europe are improving, which keeps nitrogen prices soft. Low Mississippi River levels are holding back the pass-through to US farm prices.
brownfieldagnews.comLarry LeeNov 22, 2022Not 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.
