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Escalating Middle East conflicts have led suppliers to raise or withdraw urea offers across various markets. On October 2, the November Arab Gulf urea futures contract traded at USD 367/tonne FOB, up USD 12/tonne from October 1.
Supply withdrawals from a major exporting region tighten global urea availability and push fertilizer prices higher, raising input costs for grain growers.
czapp.comStein Chingen HauganOct 7, 2024After 205 past bullish geopolitics events, UREA moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.0%), and -0.4% 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.
