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An India urea import tender closing November 11 pushed prices lower, with Brazil offers falling to USD 345-350/tonne CFR from about USD 370. Weak demand and about 1.5 million tonnes of urea vessels heading to Brazil weighed on the market.
A lower tender-led price reset and heavy Brazil-bound supply ease near-term nitrogen costs for feed grain growers, though the outcome depends on the final tender award.
czapp.comStein Chingen HauganNov 11, 2024After 81 past bearish trade events, Urea moved a median -1.0% over 5 sessions (28% higher; middle half -7.2% to +0.4%), and -5.5% 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.
