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Nitrogen fertilizer prices have fallen during the coronavirus downturn, though less than crude oil. Urea on the Gulf of Mexico wholesale market dropped from about $280 to about $230 per short ton between early April and early May.
Dealers are buying hand-to-mouth because of economic uncertainty.
Weaker urea prices reflect cautious dealer buying and softer demand, which may ease input costs for feed and grain producers. The link between urea and oil has weakened, so energy moves may not pass through to nitrogen prices.
capitalpress.comMATEUSZ PERKOWSKICapital PressMay 7, 2020Not 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.
