International fertilizer prices appear to have plateaued after a strong rally that outpaced grain and oilseed markets. India issued a new 2.0 million tonne urea tender, while China released a third urea export quota, and Brazil MAP prices fell to $740-750/t CFR with weak buying.
A plateau in fertilizer prices with weak Brazilian demand eases near-term cost pressure on feed producers. Price direction will hinge on Indian tender results and Chinese export quota volumes.
Not enough comparable past events yet for a historical read.
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.
Prices plateauing after a strong rally, together with China's third urea export quota, points to supply growth and exhausted momentum, which favors a correction.