
Argentine fertilizer buyers are concentrating on immediate application needs and delaying other purchases, according to IF's market report. Urea is absorbing more corn tonnes per unit bought, while MAP faces an unfavorable price ratio and supply restrictions ahead of the summer crop campaign.
Corn FAS prices have fallen to US$180 per tonne.
Worsening fertilizer-to-grain price ratios squeeze farm margins and could cut Argentine corn planting or fertilizer application, while tight phosphate supply supports DAP-type prices.
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.