Ag Web
Fertilizer prices, led by CF Industries, fell in Thursday's trading. Nitrogen prices reportedly plunged 30%, partly due to demand destruction.
According to Bloomberg, the June spot price in Tampa, Florida, for ammonia nitrogen fertilizer settled at $1,000/metric ton, a 30% drop from May's $1,425/ton.
Southeast Asia and other places are seeing more buyers who are unwilling to pay the record high prices that were seen in April and May, and the cost of ammonia production has declined as European natural gas prices fell in Q2, Green Markets analyst Alexis Maxwell told Bloomberg.