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International ammonia prices firmed through September 2017 as spot supply in the Black Sea, Baltic, Europe and Algeria tightened. OCI paid $270/mt FOB Baltic, a $60 premium to contract, and Yuzhnyy FOB levels rose to $210-215/mt.
Mosaic declared force majeure on inbound ammonia after Hurricane Irma, yet its October Tampa settlement still rose $30 to $245/mt CFR.
Tight ammonia supply at major hubs supports higher nitrogen fertilizer costs into the fall application season, which feeds through to urea and other nitrogen prices and to grain production costs.
dtnpf.comKarl Stenerson DTN Fertilizer ColumnistOct 4, 2017Not 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.
