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Nutrien analyst Yao Yao told a November 2019 fertilizer conference that global nitrogen prices fell in 2019 on lower energy and feedstock costs, weak trade and disruptions. Energy prices were forecast to be 40% lower in Europe and 21% lower in the U.S. versus 2018.
Supply and demand are expected to balance in 2020 and beyond.
Lower feedstock costs and weak demand kept nitrogen prices under pressure in 2019. A more balanced market in 2020 would give modest support to urea and nitrogen prices, though not a strong rally.
dtnpf.comRuss QuinnDec 20, 2019After 26 past neutral report events, Urea moved a median -0.4% over 5 sessions (42% higher; middle half -4.1% to +1.5%), and +0.9% 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.
