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A Chinese fertilizer industry association asked members to curb exports and recall shipped cargoes to secure domestic supplies. Producers were also told to keep factory prices below November 16 levels and lower sale prices where margins are high.
The move follows Beijing's September request that some exporters suspend urea exports.
China's tighter export controls remove a major fertilizer supply source, supporting global urea and phosphate prices and raising input costs for feed grain producers.
ajot.comBloombergNov 17, 2023After 129 past bullish policy events, Urea moved a median -0.1% over 5 sessions (47% higher; middle half -1.3% to +2.3%), and +1.4% over 20.
After 151 past bullish policy events, DAP moved a median +0.0% over 5 sessions (50% higher; middle half -0.6% to +0.9%), and +1.9% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% 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.
