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Hurricane Ida disrupted Gulf Coast grain and soybean shipments and knocked out production of some fertilizers and crop chemicals, including Bayer's Louisiana glyphosate plant. Urea barge prices at New Orleans rose from $450 to $552 a ton after the storm, and farmers face tight supplies ahead of harvest and wheat planting.
Tighter nitrogen and crop chemical supply raises input costs for feed grain and oilseed production, and the export disruption from the Gulf adds to pressure on US grain basis and freight.
agweb.comReutersSep 24, 2021After 49 past bullish logistics events, Urea moved a median -0.3% over 5 sessions (45% higher; middle half -1.3% to +2.2%), 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.
Hurricane Ida knocked out Gulf Coast fertilizer production and lifted New Orleans urea barge prices from $450 to $552/t, a direct supply shock to US Gulf urea.
Hurricane Ida knocked out Gulf fertilizer production and urea barge prices at New Orleans jumped from $450 to $552/t.
