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Vinachem's outlook says nitrogen prices may be near a seasonal bottom, with ammonia moving higher in some locations and fall prepay offers rising. Urea is showing signs of bottoming on world markets, though US prices remain disrupted by weather.
Gulf urea fell $6 to around $246.50 after Hurricane Barry rains disrupted ports.
Firmer nitrogen offers ahead of fall application and higher prepay pricing point to upward pressure on urea costs for the US Corn Belt. Farmers planning 2020 corn may face higher input costs.
vinachem.com.vnAug 1, 2019Not 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.
