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Nitrogen fertiliser prices have surged, with Gulf urea rising from about $420 to $700 per ton in two months. The increase reflects higher natural gas costs in Europe, which have forced plant curtailments, and reduced Egyptian shipments as Europe buys more from there.
Lower Chinese production and rising crop values are also supporting demand.
Multiple supply constraints and strong farm demand are pushing nitrogen to record levels for the past decade. Higher fertiliser costs squeeze farm margins and can reduce corn acreage, affecting feed grain supply.
capitalpress.comMATEUSZ PERKOWSKICapital PressOct 19, 2021After 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.
