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An India urea tender bought only 647,000 tonnes against a rumoured 1 million tonne target, with prices of USD 329.40 CFR East Coast India. Russian producers supplied around 400,000 tonnes, and Egyptian urea rose USD 39/tonne after Turkish short covering.
A weaker-than-expected Indian tender combined with expected US spring import needs and Australian and Thai buying supports firmer urea and phosphate prices, which lifts fertilizer costs for grain producers.
czapp.comStein Chingen HauganJan 15, 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.
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.
