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Fertilizer prices showed signs of a pause after their fall rally, with ammonia weak in the US and urea jumping more than $50 a ton at the Gulf on China's firm offers. An Indian urea tender was cancelled just before Thanksgiving, knocking about $20 a ton off Gulf prices.
The cancelled Indian tender removes near-term demand support for urea, which could cap further input cost increases for grain producers. Feed buyers may see less pressure on corn production costs.
farmprogress.comBryce KnorrNov 28, 2016farmprogress.comNov 28, 2016Not 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.
