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Western Australian growers are told fertiliser and chemical costs may stay at current highs into early 2019. Prices for nitrogen, phosphorus, potassium and some herbicides have risen from decile 1 to decile 5-6 levels.
Drivers include tight global supply, lower Chinese urea exports, a weak Australian dollar, high fuel prices and US sanctions on Iran.
Higher fertiliser costs squeeze farm budgets and may cut planted area or fertiliser application. Firm urea and phosphate prices keep feed-grain production costs elevated.
countryman.com.auMelissa WilliamsNov 6, 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.
Not 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.
