US Gulf urea values recover as gas diversions and production cutbacks bring producers to the market; activity elsewhere limited

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.

• Mar 5, 2021PWNI hits fresh new highs; US UAN values rise sharply as producers return to market post-cold snap+5.7%
• Feb 13, 2025Recovering wind output may help cool Europe’s heated gas market-0.1%
• Jan 26, 2026When the US freezes, the global LNG market catches a cold | Reuters+1.6%
• Feb 23, 2025US natural gas prices surge as La Niña replaces El Niño – Chemicals and the Economy-0.3%
• Jan 22, 2026Winter shock links gas markets worldwide as US freeze-offs meet global LNG competition | Saxo+1.4%

After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.

• May 17, 2024Wheat rises on Russian crop woes, but US production outlook limits gains - Markets - Business Recorder+1.2%
• May 29, 2024‘Weather market’ resumes role as price driver | The Western Producer-4.5%
• Feb 21, 2022Warming climate to result in reduced corn production; irrigation blunts effect | Penn State University+2.1%
• Jun 2, 2019Feed cost increases have feedyards paying attention to the weather market - RealAgriculture-1.9%
• Apr 23, 2026Market Snapshot | Costly inputs and weather burden global wheat production - Pro Farmer+1.7%