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StoneX analyst Josh Linville says UAN demand has grown because spring anhydrous ammonia fell behind and farmers are shifting to UAN, while UAN and urea values have trended lower. StoneX chief economist Arlan Suderman cut the US corn acreage estimate to 88.6 million acres from the last government figure of 89.5 million.
Lower corn acres reduce nitrogen demand.
A smaller US corn area reduces expected corn supply, which is supportive for corn prices. It also weakens nitrogen demand, so the net direction for fertilizer depends on which effect dominates.
stonex.comJosh LinvilleMay 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.
