PWNI hits fresh new highs; US UAN values rise sharply as producers return to market post-cold snap

After 30 past bullish weather events, Urea moved a median +1.4% over 5 sessions (67% higher; middle half -0.3% to +1.6%), and +9.1% over 20.

• Feb 19, 2021US Gulf urea values recover as gas diversions and production cutbacks bring producers to the market; activity elsewhere limited+1.5%
• Jan 26, 2026When the US freezes, the global LNG market catches a cold | Reuters+1.6%
• Jan 20, 2026Natural gas prices soar as cold snap blasts across the U.S.+1.4%
• Jan 14, 2024Frigid temps cut US natural gas supply as demand soars, Texas faces possible shortfall By Reuters-0.3%
• Apr 22, 2026Chicago soy rises as oil prices climb, rain forecast threatens Midwest planting - Markets - Business Recorder-0.5%

After 221 past bullish weather events, Natural Gas moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% over 20.

• Jun 25, 2021US natgas rises to fresh 29-month high - Markets - Business Recorder+10.5%
• Oct 20, 2025Cold Snap Ignites US Natural Gas Market, Reshaping Winter Outlook+15.3%
• Jan 3, 2022U.S. natural gas prices rise as cold freezes wells | Reuters+2.6%
• Jan 11, 2025US natural gas prices soar to two-year high on colder forecasts - Markets - Business Recorder+53.7%
• Aug 28, 2021US natgas jump to fresh 32-month high - Markets - Business Recorder+8.7%