
Global urea prices were stable to slightly lower across exporting regions in mid-October, with Baltic granular near $375-384/t FOB and Black Sea granular at $390-405/t FOB. Market participants were waiting for India's RCF tender, which seeks up to 2 million tonnes for shipment by 10 December.
India's large tender is expected to set the direction of Q4 urea prices, and nitrogen costs feed into farm input and feed grain production economics. Producers are holding sales until the results are known, so price direction depends on the tender outcome.
After 23 past neutral trade events, Urea moved a median 0.0% over 5 sessions (48% higher; middle half -1.1% to +1.0%), and +2.8% over 20.
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.