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StoneX analyst Josh Linville says global urea fundamentals remain tight, with demand near or above last year's level and Chinese exports still not returning. He notes European natural gas prices are rising, raising the prospect of further production cuts, and that India absorbed much of the excess inventory for the rest of 2024.
Tight supply and rising European gas costs support a firmer urea outlook into early 2025, which could limit feed-related fertiliser cost relief even though prices have been slipping.
stonex.comJosh LinvilleNov 21, 2024Not 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.
