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Nitrogen fertilizer prices are dropping globally as producers offer early-bird discounts at the end of the main application season. Granular urea has fallen from just under $1,000/short ton to around $500, despite slightly weaker gas and grain prices.
Early-bird incentives push fertilizer into storage and distribution chains ahead of next season, signaling lower nitrogen costs in the near term. Energy costs still account for about 80% of production expense, so gas moves could reverse the trend.
zmp.deJun 20, 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.
