Global nitrogen prices - urea, ammonia - were higher again last week, with phosphates and potash prices firmer in the west 📈

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.

• Urea+31.8%5 periods to Jul 28, 20234.6σ

  Egypt fob urea broke $400/t for the first time since March with Brazil and US also higher, showing the broad-based rally building in the week before the end date.

• Urea+31.8%5 periods to Jul 27, 20235.1σ

  Egypt fob urea breaking $400/t for the first time since March and ammonia rising after the Indian tender show the start of the rally and tight trade flows.

• DAP+13.4%1 period to Jul 27, 20236.2σ

  Dated 3 days before the move, it reports a broad fertilizer rally led by urea above $400/t with firmer western phosphate prices, a sentiment and cost-linked spillover that supports DAP.

• Urea+24.1%1 period to Jul 27, 20239.1σ

  Prior-week gains in fob Egypt breaking $400/t and an Indian ammonia tender built upward momentum ahead of the spike.

• DAP+14.5%5 periods to Aug 3, 20233.7σ

  Rising urea and ammonia prices and firmer western phosphates raise input costs and spill sentiment over into DAP.

• DAP+13.4%5 periods to Jul 28, 20234.0σ

  Rising nitrogen prices with firmer western phosphate prices point to broad fertilizer sentiment and input-cost support that lifted DAP.