
Global urea activity stayed subdued through November as buyers awaited results of an Indian urea tender. The November 26 tender filled only 1.4 million tonnes of a 2.5 million tonne requirement, with India struggling to secure volume as Chinese exporters stayed largely out.
Chinese phosphate exports were down sharply over the first ten months of the year, keeping phosphate markets stable, while DTN retail data showed most fertilizer prices rising in early November.
Under-filled Indian tenders and limited Chinese export availability keep global nitrogen and phosphate supply tight, supporting fertilizer prices. Feed buyers should expect input costs to stay firm, which weighs on feed margins.
Tras 683 eventos bajista de comercio pasados, Maíz se movió una mediana de -0,2 % en 5 sesiones (47% al alza; mitad central entre -1,7 % y +1,6 %), y +0,3 % en 20.
Tras 176 eventos alcista de comercio pasados, Urea se movió una mediana de +0,1 % en 5 sesiones (51% al alza; mitad central entre -1,3 % y +2,4 %), y +1,6 % en 20.
Tras 193 eventos alcista de comercio pasados, DAP se movió una mediana de +0,4 % en 5 sesiones (54% al alza; mitad central entre -0,3 % y +1,8 %), y +1,9 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
The Indian tender on Nov 26 filled only 1.4 of 2.5 million tonnes with Chinese exporters largely absent, signaling weak global demand and buyers holding back, which is bearish for urea prices ahead of Dec 1.