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China is curtailing urea exports through mid-2022, and urea typically supplies about 5.5 million tonnes annually or 10 percent of global trade. A nitrogen shortage is expected to reduce yields worldwide.
Lower nitrogen application and reduced urea supply point to smaller crops and tighter feed grain supply, supporting corn and urea prices.
producer.comSean PrattDec 2, 2021After 129 past bullish policy events, Urea moved a median -0.1% over 5 sessions (47% higher; middle half -1.3% to +2.3%), and +1.4% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% 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.
