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Bloomberg reports that the cost of fertilizer for European spring crops has risen sharply, making winter crop nutrient applications more expensive. Higher costs could prompt farmers to reduce spring plantings, which account for roughly a third of European grain area.
Smaller European spring plantings would reduce grain supply and could support wheat, barley and feed prices, especially if combined with higher input costs.
bloomberg.comYuliya FedorinovaJan 21, 2022After 57 past bullish macro events, Wheat (SRW) moved a median +0.3% over 5 sessions (65% higher; middle half -0.5% to +1.7%), and -0.7% over 20.
Not enough comparable past events yet for a historical read.
After 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.
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.
