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Fertilizers, Harvest, Russia-Ukraine, Market Data & Rain Days 02/26/2022

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Even though the leadership of Ukraine asked Putin for terms of surrender Friday morning, many Ukrainian soldiers are refusing to give-up the ghost… it always happens. It is very difficult to go from “all out kill or be killed” mode to “surrender” mode just because some politician tells you to do so. Therefore, sporadic fighting continues, but the combatants are just wasting their lives.

 

Fertilizers

Given so much of the world’s fertilizer comes from Russia and Belarus, fertilizer prices jumped to the moon on Thursday.

Take a look:

April urea AG - +$200 per ton

April urea Egypt - +$240

March/April urea NOLA - +$135

April DAP NOLA - +$90 NOLA = New Orleans, Louisiana barge

June DAP NOLA - +$107.50

NOLA and global urea prices did decline sharply yesterday, but still higher smartly on the week.

 

Harvest

Brazil's Mato Grosso’s soybean harvest is 79% complete; 10% was done the past week. The average pace is 72.2%. Mato Grosso produces about 30% of Brazil’s soybeans and corn. It is about 2.5 times large than Texas.

If you watch the daily rain day chart we send to you, you already know the weather is improving somewhat in the dry areas of South America.

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