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The Green Markets North American Fertilizer Price Index fell 12% in the week, its largest drop since 2009. Urea prices swung by more than $100 per short ton on each day of the week as buyers and sellers assessed spring demand.
European natural gas prices also eased from recent highs.
Lower nitrogen fertilizer prices reduce feed-grain production costs for the coming season, though volatility makes forward pricing harder. Easing gas costs also reduce pressure on nitrogen production economics.
bloomberg.comElizabeth ElkinJan 7, 2022Not enough comparable past events yet for a historical read.
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.
Describes the sharp fertilizer price drop and extreme daily urea swings that week as buyers and sellers reassessed spring demand, and it confirms the selloff, but it was published after the move so it is more a description than a cause.
