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Global urea prices fell about 11% during May 2022, from $1246/t to $1106/t according to Thomas Elder Markets modelling. Slowing demand, lower gas prices and China's scheduled return to the market drove the decline.
Retail urea in Australia eased only about half as much, from $1270/t to roughly $1200/t.
Lower global urea costs point to cheaper nitrogen inputs ahead of the top-dressing season, though the retail lag limits relief for growers. Cheaper nitrogen supports corn and grain margins over time, but the effect on feed prices is indirect.
farmweekly.com.auGregor HeardMay 26, 2022Not 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.
Global urea fell about 11% in May on slowing demand, lower gas prices and China's expected return to exports, explaining downward pressure.
Global urea prices fell about 11% in May as demand slowed, gas prices eased and China's return to the market was expected, giving supply- and demand-side reasons for the decline.
Global urea prices fell about 11% in May on slowing demand, lower gas prices and China's expected return to exports, which are supply and demand factors consistent with the sell-off.
