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Yara reported a 6% drop in European nitrogen deliveries for July to September, against 28% in Africa and Asia and 35% in the Americas. Yara's market intelligence head said farmers' optimal nitrogen rates are about 10-12% below last year's levels.
European nitrogen capacity is largely mothballed because of high gas costs, but farmers have secured supply and are cutting application rates. These factors limit the risk of a severe European nitrogen shortage and price spike.
grainpricenews.comMike VerdinOct 21, 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.
