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The Profercy World Nitrogen Index hit its lowest level of 2022 as nitrogen product values eroded further. Urea activity slowed after India's purchase tender concluded, and sellers in Southeast Asia and China offered product at lower levels.
US late-season import demand failed to materialise because planting was delayed by poor weather.
Weak urea and nitrogen pricing reflects soft buying interest after the Indian tender and a delayed US planting season. Lower fertilizer costs can ease input pressure for corn growers, but the price impact on feed grains is limited.
profercy.comChris YearsleyMay 27, 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.
The PWNI fell to its 2022 low as urea demand slowed after India's tender closed, Southeast Asian and Chinese sellers offered lower, and US import demand failed to appear, which directly explains a sharp one-day drop in urea.
The Profercy Nitrogen Index hit its 2022 low as urea activity slowed after India's tender and sellers in SE Asia and China offered lower, with US import demand absent.
The nitrogen index hit its 2022 low as urea activity slowed after India's tender ended, sellers in SE Asia and China offered lower, and US import demand failed to appear, which fits the downward pressure (published a day later).
