# Relationship between Nitrogen and Natural Gas

> Iowa Farm Bureau analysts say the ratio of Iowa anhydrous ammonia prices to US natural gas prices has fallen from over 100:1 in 2013 to about 45:1 in 2017, which is closer to the 1990s and early 2000s norm. Anhydrous averaged $367 per ton as of October 2017, versus nearly $900 in 2013, and natural gas is near $8 per thousand cubic feet.

- Date: 2018-02-02 · published 2018-02-02T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/66811-relationship-between-nitrogen-and-natural-gas
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Urea](https://feedsoft.ai/c/UREA.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Nitrogen costs are increasingly tied to natural gas, so gas price moves feed into fertilizer costs for corn growers. The narrower ratio suggests fertilizer is no longer unusually expensive relative to gas and corn.

## Read by commodity

- CORN: neutral
- UREA: neutral
- NATGAS: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2016-05-25 | [Spread between US oil and natural gas hits 20-month high - The Business Times](https://feedsoft.ai/events/7639-spread-between-us-oil-and-natural-gas-hits-20-month-high-the-business-times.md) | +13.3% | +42.9% |
| NATGAS | 2020-05-15 | [When Natural Gas Prices Converge](https://feedsoft.ai/events/53322-when-natural-gas-prices-converge.md) | +5.5% | +3.7% |
| NATGAS | 2021-03-05 | [LNG, seasonality, and natural gas price volatility - Enkon Energy Advisors](https://feedsoft.ai/events/48290-lng-seasonality-and-natural-gas-price-volatility-enkon-energy-advisors.md) | -3.0% | -6.8% |
| NATGAS | 2020-10-05 | [Natural Gas Price Benchmarks \| European Gas Hub](https://feedsoft.ai/events/50807-natural-gas-price-benchmarks-european-gas-hub.md) | +33.9% | +71.9% |
| NATGAS | 2026-07-01 | [Natural Gas Market Indicators – June 25, 2026](https://feedsoft.ai/events/18981-natural-gas-market-indicators-june-25-2026.md) | -4.1% | -19.8% |
| UREA | 2025-02-19 | [LNG markets poised for rollercoaster year ahead - Rystad Energy’s Gas and LNG Special Market Update \| Air Freight News](https://feedsoft.ai/events/26217-lng-markets-poised-for-rollercoaster-year-ahead-rystad-energy-s-gas-and-lng.md) | -0.6% | -4.7% |
| UREA | 2020-10-06 | [Lower gas prices to benefit urea producers, reduce subsidy needs: Icra, ETEnergyworld](https://feedsoft.ai/events/50947-lower-gas-prices-to-benefit-urea-producers-reduce-subsidy-needs-icra.md) | -0.7% | +2.7% |
| UREA | 2020-06-25 | [Global gas prices teeter above record lows on virus optimism, weather – The Energy Bulletin Daily](https://feedsoft.ai/events/9803-global-gas-prices-teeter-above-record-lows-on-virus-optimism-weather-the-energy.md) | +3.4% | +7.3% |

## Sources

- iowafarmbureau.com: https://www.iowafarmbureau.com/Article/Relationship-between-Nitrogen-and-Natural-Gas

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.