Tidbits, Gas & Fertilizers, Export Sales, Markets & Rain Days Update 1/27/23
February CBOT options expire today.
Highlights
Tampa is probably the biggest port for US fertilizer coming and going. Ammonia prices were down 19% yesterday. February AA priced at $790 per mt, down from January’s $975.
Natural Gas prices have declined over 50% in just the last 6 weeks, trading at the lowest price since May of 2021. It is possible that the restart of the Freeport LNG plant in Texas will cause US natural gas prices to increase as more pipeline natural gas will be liquified (LNG) and exported. More on that in the Tidbit section below.
The US economy grew at an annual rate of 2.9% in the 4th quarter, down slightly from 3.2% in the third quarter, but better than expected for the fourth quarter. Even though the US economy contracted the first two quarters of 2022, for all of 2022, the US economy expanded 2.1%.
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