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NOLA urea prices fell through January 2020 from $222-$225 to $209-$215 per ton FOB. Ammonia demand stayed quiet over winter, while a projected rise in US corn acreage to 93-95 million acres was cited as supportive for spring nitrogen demand.
Higher expected corn plantings would lift spring nitrogen fertilizer demand, which supports domestic ammonia and urea prices and raises feed grain production costs.
dtnpf.comLogan Garcia Market ReporterFeb 7, 2020After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 76 past bullish report events, Urea moved a median 0.0% over 5 sessions (49% higher; middle half -2.2% to +2.9%), and -0.3% 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.
