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Yara has idled more than half of its European ammonia production capacity because of a steep fall in fertilizer prices. Its first-quarter earnings came in well below expectations due to those market price declines.
Production cuts signal that producers see low nitrogen prices as unprofitable, which can tighten supply later. For now the price effect is bearish for European nitrogen fertilizer.
reuters.comVictoria KlestyApr 28, 2023Not 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.
