One of those is an absolute value (urea $) and one is a rate of change (food price inflation). Maybe I’m being dumb, but why are they tracking almost 1:1, both with linear Y axis?
I can compare Urea $ to Crude Oil $ and get an even closer 5 year correlation. Are we actually indexing against something else here?
Edit: that is, perhaps urea prices are driven mostly by energy costs, which in turn drives inflation rates.