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The Tampa ammonia contract was cut by $200/t for May loadings by Yara and Mosaic, and a Middle East sale into Morocco was made at a steep discount. Industrial demand has softened, and an Indonesian Kaltim tender was scrapped after bids fell short of target prices.
Falling ammonia prices signal weaker feedstock costs for urea and other nitrogen products, which tends to pressure nitrogen fertilizer prices lower.
profercy.comChris YearsleyApr 29, 2022profercy.comChris YearsleyApr 29, 2022Not enough comparable past events yet for a historical read.
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.
A $200/t Tampa ammonia cut and softer industrial demand lowered nitrogen input cost and sentiment, adding downward pressure on urea.
A $200/t cut in the Tampa ammonia contract and softer industrial demand signal falling nitrogen input values, which pull urea lower.
A $200/t cut in the Tampa ammonia contract and scrapped tenders signal weakening nitrogen demand and falling feedstock costs, which spill over into urea sentiment.
