
Urea prices rebounded in July, lifting Egyptian FOB to a peak of $448 per ton and Algerian FOB to $471, while ammonium sulfate kept falling. European buying of granular urea drove the rally.
Traders expect France's nitrogen subsidy to shift demand toward straight nitrogen products and away from excluded grades.
Stronger European and North African urea values raise nitrogen input costs for feed grain producers and tighten the fertilizer complex ahead of fall application. The split between urea and ammonium sulfate shows that policy can reshape demand within the nitrogen market.
Not 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.