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India has issued a urea tender closing July 8 for shipment by August 27, and China is not expected to enter the market soon. Middle East FOB prices are around USD 330-350/tonne, and Indonesian loadings are delayed by bad weather at Bontang.
India's tender is a key demand signal that supports urea prices, while muted buying from Brazil and Europe limits upside, so the price outlook stays firm.
czapp.comStein Chingen HauganJun 30, 2024
farmingportal.co.zaFarming PortalJun 28, 2024Not enough comparable past events yet for a historical read.
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.
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.
