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Urea prices edged higher in early February, with Middle East values near $380/t and Brazil paying above $385/t CFR. China remains largely out of the export market under restrictions that may last until April.
Limited availability in Asia and strong demand ahead of the Thailand and Australia buying season support prices.
Chinese export restrictions keep urea tight into the spring application season, supporting higher fertilizer costs for grain and feed crop production; a return of Chinese supply is the main downside risk.
czapp.comStein Chingen HauganFeb 5, 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.
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.
