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Yara warned European farmers not to delay fertilizer purchases despite high prices, citing a risk of nitrogen shortages and price spikes. Its Q2 data showed urea averaging $919/t in the Egyptian market, up 144% year on year, and European nitrogen curtailments including 1.7m tonnes of Yara's own capacity.
Nitrate inventories in Europe are at historically low levels.
Tight European nitrogen supply and rising gas-linked production costs point to higher fertilizer prices for feed grain producers, with the risk skewed upward if buying is delayed.
grainpricenews.comMike VerdinJul 19, 2022Not enough comparable past events yet for a historical read.
Not 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.
