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US Urea Ammonium Nitrate (UAN) markets moved lower throughout May **** as the conclusion of the spring fertilizer application season, comfortable supply conditions, and elevated inventories weighed on buying interest. Early May saw stable operating rates across major Gulf Coast nitrogen facilities, ensuring adequate UAN availability across domestic distribution channels. However, as peak agricultural application activity concluded, demand for UAN gradually weakened, reducing spot market participation. By mid-May, distributors and retailers shifted their focus toward inventory management rather than fresh procurement, while farmers largely completed seasonal fertilizer purchases. During late May, the market remained well supplied, with buyers adopting a cautious approach amid sufficient product availability and limited urgency to replenish stocks.
Demand fundamentals remained the primary factor behind the softer UAN pricing environment. Agricultural consumption of UAN declined following the completion of key corn and row-crop fertilizer applications, reducing immediate purchasing requirements across...
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