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Nitrogen fertilizer prices rose from 2020 through early 2022, with anhydrous ammonia reaching about $1,500 per ton by late February. The authors expect the Ukraine-Russia conflict to intensify nitrogen price and supply concerns.
Persistently high nitrogen costs raise corn production expenses and may reduce acreage or fertilizer use, supporting corn prices over the coming season.
farmdocdaily.illinois.eduHongxia JiaoApr 6, 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.
After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% 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.
