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Western sanctions on Russia, a major exporter of potash, ammonia and urea, have disrupted shipments of key fertilizer inputs worldwide. Russia and Belarus together supplied more than 40% of global potash exports last year, and Russia also accounted for about 22% of ammonia and 14% of urea exports.
Losing this share of nutrient supply tightens fertilizer availability ahead of planting, which pushes input costs up and can cut yields of corn, soy, rice and wheat. Buyers should expect higher feed grain production costs over the coming seasons.
reuters.comTom Polansek, Ana ManoMar 23, 2022After 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.
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.
