Prices for anhydrous ammonia at the Gulf surged higher this week, following the trend from international markets as farmers around the world begin to book fall supplies.
Ammonia traded for $238 a ton at the Gulf, up $75 from the price that had held through the first weeks of July, as deals for August were settled. International prices also rose, with the Black Sea quoted around $205 a ton, up more than $40 from recent lows.
This week's move was the latest sign that fertilizer prices have bottomed seasonally in the gap between planting in the northern and southern hemispheres. Quotes were also higher in the latest USDA survey of producers in Illinois.
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