Reuters reports US Midwest ammonia prices rose from about $600 to $800 per short ton between late June and early October and have since reached around $875, as Trinidad exports fall due to gas shortages and Middle East supply shocks tighten the market. Farmers face high diesel and weak Chinese grain demand.
Tighter ammonia supply lifts US nitrogen costs for corn growers, potentially reducing corn planting intentions and supporting corn prices over time.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 176 past bullish trade events, Urea moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +2.4%), and +1.6% over 20.
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.