# Market Report 230331 - Genesis Fertilizers

> Tampa ammonia for April fell 26% or US$155/mt to US$435/mt cfr from March's US$590/mt cfr, as sources had expected a sizeable drop on lower European and US natural gas prices and plentiful supply. Urea in Brazil slipped to US$315-US$320/t cfr and Middle East FOB eased to US$289-US$312/t, while several NW Europe ammonia plants ran at low rates on weak fertilizer-sector demand.

- Date: 2023-03-31 · published 2023-03-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/5524-market-report-230331-genesis-fertilizers
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Urea](https://feedsoft.ai/c/UREA.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Lower ammonia and natural gas costs reduce nitrogen production costs, adding downward pressure on urea and other nitrogen fertilizer prices that feed into farm input costs for feed grain growers.

## Read by commodity

- CORN: neutral
- UREA: bearish ▼
- NATGAS: bearish ▼

## Sources

- genesisfertilizers.com: https://genesisfertilizers.com/2023/04/01/market-report-230331/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.