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Fertiliser prices broadly weakened as urea struggled to find a floor, with Middle East producers trying to hold about $280-285/t FOB. A Sicilian … Oman cargo sold at $275/t FOB, and Chinese supply is expected in June.
Processed phosphate prices came under pressure from rising Chinese supplies.
Expected Chinese urea exports and rising phosphate supply point to lower global nutrient prices, which reduces input costs for grain and oilseed growers but may cap their returns.
czapp.comStein Chingen HauganMay 5, 2024Not enough comparable past events yet for a historical read.
Not 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.
