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A trader at ADM Fertilizer advised Canadian producers to buy urea before the second half of February. Low Mississippi River water levels, though improved since Christmas, are still disrupting transport of imported fertilizer into North America.
Urea has fallen from prior-year highs as European gas supply has recovered and plants have restarted.
Mississippi transport constraints raise barge freight and regional delivery costs, and the buying advice implies near-term upward pressure on urea prices.
producer.comKevin Hursh, PAgJan 25, 2024After 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.
