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Urea prices are heading below USD 300 per tonne FOB Middle East, with a reported sale at USD 310 and suppliers largely open for June and July shipment. Nola urea and Brazil potash prices also fell, and US processed phosphate dropped USD 100 per short ton in the week.
Heavy urea supply, including China's return to exports, combined with weak northern hemisphere demand points to lower nitrogen and phosphate input costs for feed producers.
czapp.comStein Chingen HauganMay 21, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
Notes US processed phosphate dropped USD 100 per short ton in the week, directly reflecting the sharp DAP price decline alongside weak fertilizer sentiment.
Urea heading below $300/t FOB Middle East with suppliers open for June/July shipment signals oversupply and weak bids, setting up the late-May slide.
Published May 21, before the May 25 drop, it reports US processed phosphate falling USD 100 per short ton in the week amid broad fertilizer weakness, which is direct price evidence and sentiment pressure on DAP.
Urea prices heading below USD 300/t FOB Middle East, with suppliers open for June and July shipment, show weak demand and excess supply that put pressure on prices ahead of the drop.
