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Urea producers extended order books into August as values rose further, and the Profercy World Nitrogen Index reached its highest level since March 2014. North African FOB prices rose by up to $10/t, and US Gulf barges traded at $430/st FOB Nola for first-half June delivery.
Tight supply and firm Chinese export restraint are lifting nitrogen fertilizer costs, which raises input costs for corn growers and points to higher corn-related pressure on feed margins.
profercy.comChris YearsleyJun 4, 2021Not 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.
