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Urea prices weakened in late November as unsold December cargoes and an Indian tender pressured global markets. Brazil CFR January urea traded at USD 320/tonne, and Iran cut its FOB offers to around USD 270-305/tonne with 300,000 tonnes in inventory.
Phosphate prices dipped slightly while potash held steady.
Lower urea prices reduce nitrogen input costs for farmers in the near term, which can ease pressure on crop margins. Weak urea demand signals softer global fertilizer sentiment.
czapp.comStein Chingen HauganNov 25, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Reports of a slight dip in phosphate prices amid weak global fertilizer demand and falling urea values point to broader sentiment pressure on DAP in late November.
