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Global urea prices drifted lower in the week to early April, with Middle East urea falling $10/t to near $300/t. Producers have secured April sales, and analysts expect downward pressure to resume after current contract deliveries finish.
Lower nitrogen prices reduce production costs for grain and feed crops and signal weak fertilizer demand, supporting bearish fertilizer pricing.
chemanalyst.comShiba TeramotoApr 3, 2023Not 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.
