Brazilian farmers are postponing purchases of urea and other nitrogen fertilizers amid tighter credit, financial strain, high costs, and uncertainty over international prices. Nitrogen fertilizer imports are running 25% below the pace of 2025, prompting concern about supply and input costs ahead of the 2027 second corn crop.
Delayed buying and lower imports could leave less nitrogen fertilizer available as safrinha planting approaches, potentially raising replacement costs for farmers. Higher or uncertain input costs could weigh on corn production economics.
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.