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Domestic and international ammonia prices weakened in June as supplies remained ample and downstream product demand softened. Middle East FOB ammonia fell to $190-230/mt from $270-340/mt at end May, Black Sea cargoes traded at $210-220/mt, and the July Tampa contract settled at $240/mt, down $25.
An oversupplied ammonia market lowers the cost base for nitrogen fertilizers such as urea and UAN, which pressures nitrogen prices through the summer application window.
lafarmbureaunews.comAvery DavidsonJul 12, 2017
dtnpf.comKarl Stenerson DTN Fertilizer ColumnistJul 10, 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.
