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US urea prices held firm on barges as traders rushed cargoes to New Orleans before the Mississippi river closure. Indian authorities said the next urea tender is at least a month away, while Eastern urea prices fell on increased Chinese exports.
Mixed regional movements leave urea prices flat overall, but the delayed Indian tender and rising Chinese supply weigh on the outlook. The river closure is a logistics factor that could support US prices briefly.
farmingportal.co.zaFarming Portal28 abr 2023Tras 23 eventos neutral de comercio pasados, Urea se movió una mediana de 0,0 % en 5 sesiones (48% al alza; mitad central entre -1,1 % y +1,0 %), y +2,8 % 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.
Reports of rising Chinese urea exports, a delayed Indian tender (at least a month away) and the end of the US pre-closure buying rush point to weaker demand and more supply, which supports a sharp price drop.
