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The Indian urea tender closed August 9 with offers near USD 396-399 CFR, about USD 10-15 below expectations, and received 3.38 million MT of offers. Chinese netbacks fell to about USD 375 FOB and Brazilian CFR prices dropped to around USD 400.
Lower tender prices pulled global urea values down, easing nitrogen costs for feed and grain producers, though China's export delays could reverse the decline.
czapp.comStein Chingen HauganAug 13, 2023After 81 past bearish trade events, Urea moved a median -1.0% over 5 sessions (28% higher; middle half -7.2% to +0.4%), and -5.5% 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.
