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DTN data showed phosphorus fertilizer averaged $1,047 per ton, up 8% from the prior month and an all-time high in the dataset. Fertilizer prices have roughly doubled on the US West Coast in a year, and Brazil is accused of continuing Russian fertilizer imports despite sanctions.
Record fertilizer costs raise grain production costs and can reduce planted acreage or application rates, supporting feed grain prices.
moroccoworldnews.comJasper HamannApr 23, 2022After 323 past bullish geopolitics events, Corn moved a median +0.5% over 5 sessions (57% higher; middle half -1.5% to +2.9%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
After 205 past bullish geopolitics events, Urea moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.0%), and -0.4% over 20.
After 114 past bullish geopolitics events, DAP moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +1.2%), 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.
