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South African retail prices for the week to February 1 show urea granular up 4.0% week on week to R8,204, while MAP fell 1.2% and KCl granular fell 3.4%. Market talk points to a possible Indian urea tender and Middle East urea rising about $20/t to near $380/t FOB.
Expected Indian buying and tight Northern Hemisphere urea supply support higher nitrogen fertilizer costs, while softer potash prices offer some offset for crop input budgets.
farmingportal.co.zaFarming PortalFeb 2, 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.
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.
