12/18/2024 End of Day Fertilizer Market Update
International
- no trades observed
North America
- There continues to be growing talk of a farm assistance bill (FARM act 2024) working its way thru D.C. that could inject a decent amount of cash into farmers hands
- The amount per planted acre estimates have continued to fluctuate
- Also keep in mind that this is still not complete (to my knowledge)
- However, if approved and payments are made relatively quickly, we could see an earlier surge in spring commitments
- Just something to watch out for
- https://www.dtnpf.com/agriculture/web/ag/news/article/2024/12/18/farmer…
- Grains took a hit today
- December 2025 corn fell almost 6 cents to close at $4.3275
- And yet, the steady to bullish fertilizer market outlooks remain unchanged
- End of the day, fertilizers are still struggling with tight S&D's
- Until I/we see a situation where we think farmers switch away from corn to less fertilizer intensive grains, demand should largely remain unchanged
- Unfortunately, still not seeing a lot of hope that supplies get better
- Never think things cannot get worse
- Paper trades today
- March NOLA Urea @ $343 (down $4.5 from yesterday’s settlement)
- Physical trades today
- January NOLA Urea @ $326/$326 (down $6 from yesterday’s trade)
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