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Urea prices are rising globally, driven by Indian tenders, with India expected to keep buying DAP. The RCF India urea tender drew an offer of USD 364.50/t CFR west coast, while east coast offers were around USD 389/t, and no awards had been made at the time of writing.
Brazilian granular potash prices eased slightly.
Expected Indian buying needs and limited producer availability should keep urea prices firm, raising nitrogen costs for feed and grain buyers.
czapp.comStein Chingen HauganOct 14, 2024After 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.
After 193 past bullish trade events, DAP moved a median +0.4% over 5 sessions (54% higher; middle half -0.3% to +1.8%), and +1.9% 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.
