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Fertecon reports that ammonia prices weakened in late January as unsold supply built, with the February Tampa contract settling at $340 per ton CFR, down $15. A Trinidad plant closure and a Qatar unit outage were noted, and Middle East FOB prices held flat at $315 to $340 per ton.
Lower ammonia costs ease nitrogen input expenses for grain producers, but the Trinidad plant closure is a supply risk that could firm prices. The net effect on feed grain costs is modest.
dtnpf.comKarl Stenerson Market ReporterFeb 6, 2018Not 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.
