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Russia and Trinidad and Tobago together account for more than 80% of U.S. imports of UAN solutions, the most common type of nitrogen fertilizer. The American Farm Bureau Federation estimates that about 25% of U.S. fertilizer operating costs are due to UAN.
U.S. dependence on a few import sources for nitrogen fertilizer means trade policy on these suppliers directly affects farm input costs and corn margins.
politico.comGarrett DownsJul 18, 2022After 1,982 past trade events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +1.6%), and +0.4% over 20.
After 1,802 past trade events, Soybeans moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.7%), and +0.7% over 20.
After 1,079 past trade events, Wheat (SRW) moved a median -0.0% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.2% 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.
