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Profercy's World Nitrogen Index climbed above 300 points as European nitrogen values firmed on concerns over fertiliser production. Dutch TTF gas near €200/MWh is prompting further cutbacks, and Egyptian urea sold for October shipment at $660/t fob in the Middle East.
Rising gas costs and possible further European cutbacks keep urea supply tight and prices elevated, pressuring feed and grain producers' input costs.
profercy.comChris YearsleyAug 5, 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.
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.
