New-season nitrogen prices are expected to be announced before the Cereals event and the market is under pressure.
Plentiful supplies of granular urea, available at £250/t for full loads delivered for September through to December, are the source of most of that pressure.
Traders estimate that the keen prices have tempted growers to book up about one-third of the expected new-season urea tonnage.
Members of buying group AtlasFram have committed to 5,000t of urea in the group’s pool system, compared with 4,000t last season.
Some current season UK manufactured ammonium nitrate (AN) is still available and is going on to farm at anywhere between £280/t and £295/t depending on region and local supply pressure.
Imported AN prices have fallen by about £30/t over the past month, said Anglia Farmers, and is at a discount of up to £40/t to UK product as long-holders try to shift stock before the new season terms are released.
The urea market is also piling on pressure, but imported AN prices are generally only available for June delivery.
Potash and phosphate prices are steady for the time being, although phosphate is expected to weaken slightly.