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Urea prices at New Orleans rose to an average of $316 per ton, up 40% year on year and higher for ten straight weeks. Extension economist Scott Stiles links the rise to likely lower Chinese supply after US tariffs on Chinese fertilizer, which step up to 25% in January 2019.
Higher crude oil prices are also raising production and freight costs.
US tariffs on Chinese fertilizer cut import supply and lift Gulf urea and phosphate prices. Higher nitrogen and phosphate costs raise the cost of growing feed grains and oilseeds.
cornsouth.comVicky BoydNov 1, 2018After 176 past bullish trade events, Urea moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +2.4%), and +1.6% over 20.
After 193 past bullish trade events, DAP moved a median +0.4% over 5 sessions (54% higher; middle half -0.3% to +1.8%), and +1.9% 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.
