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Urea barge prices at New Orleans rallied to three-year highs in August, with trades as high as $295/t late in the month versus $248-255/t in late July. Global ammonia prices also kept rising, with Ukrainian spot offers at $320-322/t FOB, up from $280-285/t at the end of July.
Outages and turnarounds at ammonia and urea plants are tightening supply just as fall application demand arrives. Firm nitrogen prices raise the cost of fertilizer inputs for grain and oilseed growers, which can support feed-grain prices.
dtnpf.comKarl Stenerson Market ReporterSep 10, 2018Not 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.
