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Urea prices cooled as Egyptian gas supply resumed and producers returned to about 80% utilization. Spot urea in the Middle East is USD 340-345/tonne FOB, and Brazilian CFR offers have eased, with no sign India will enter the market before September.
Returning Egyptian supply and absent Indian and Chinese demand point to softer urea prices in the near term, lowering nitrogen input costs for feed producers.
czapp.comStein Chingen HauganJun 23, 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.
