
Urea prices in New Orleans reached about US$410 per tonne as of April 10, up 25% since January 1. Analysts attribute the rise largely to China's near-absence from export markets, which has removed roughly five million tonnes from a 50 to 55 million tonne global market.
Lost Chinese urea exports tighten global nitrogen supply, pushing up fertilizer costs for grain and oilseed growers and raising the cost of crop inputs that feed into feed grain production.
After 176 past bullish trade events, Urea moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +2.4%), and +1.6% 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.