
Unusually warm soil temperatures across much of the Corn Belt are keeping conditions unfavorable for fall ammonia and manure nitrogen applications. Agronomists say the 50-degree-and-falling soil threshold may not be reached until well into December.
Delayed fall nitrogen application could shift fertilizer demand into spring and affect planting-season ammonia purchases, while the warm, wet fall linked to a strengthening El Niño adds weather uncertainty for the next corn crop.
After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 37 past weather events, Urea moved a median +1.4% over 5 sessions (73% higher; middle half -0.1% to +1.6%), and +5.6% 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.