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The Argus fertilizer affordability index showed March 2019 fertilizer prices were the most affordable for farmers since July 2018. Urea prices fell for six months, troughed in March and have since stabilised, while phosphate and potash markets have been weak.
The USDA expects US corn planted area to rise by 3 million acres in 2019.
Improved affordability and a rising US corn area point to firmer nitrogen demand in 2019, but weak phosphate and potash prices keep the broader fertilizer outlook soft. Feed buyers may see stable input costs with limited upside.
worldfertilizer.comJohn WilliamsApr 8, 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.
Not enough comparable past events yet for a historical read.
After 38 past neutral report events, DAP moved a median +0.5% over 5 sessions (61% higher; middle half -0.5% to +1.6%), and +3.9% 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.
