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Farm Futures analyst Bryce Knorr says fertilizer prices are showing signs of topping out, but lower input costs will not reach farmers until summer. The Suez Canal blockage by the Ever Given added shipping delays for grain and fertilizer on top of a difficult winter and coronavirus disruption.
Higher and slow-to-fall fertilizer costs raise the cost of growing crops and squeeze farm margins, which can support grain prices and tighten feed supply in the near term.
farmprogress.comBryce KnorrMar 30, 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.
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.
