Tidbits, Q&A: Urea Price, Soybean Puts 9/20/26
Tidbits
All indications are the XI/Trump meeting for Thursday are still on schedule.
Q&A: Urea Price
From Russ:
"Looked at spring urea. This late summer was 460. Two weeks ago 570. Now 620. Every time they told us to wait - CHS has not taken a position on spring tons yet. Missing the boat?"
China resumed urea exports in late May 2026, with the main export window and significant shipments beginning in July 2026. Producing nitrogen fertilizer takes a tremendous amount of heat. Most N manufacturers use natural gas, but China uses coal for about 78% of its urea production. The USA produces about 94% of the nitrogen fertilizer it annually consumes.
Natural gas futures are:
Nov: 2.907 per million British Thermal Units (mBTU)
Dec: 3.395 (made new contract low Friday and in a downtrend since March)
Jan: 3.741
Feb: 3.439
Mar: 2.812
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