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StoneX's Josh Linville says urea prices recently dropped as European production restarted, though he expects global values to be supported. He notes that UAN and NH3 trade at large premiums to urea, which should drive demand switching, and that India's tender is adding demand.
Demand switching toward urea and India's tender can firm urea prices. Restarted European output limits how much support those factors provide.
stonex.comJosh LinvilleNov 4, 2022stonex.comJosh LinvilleNov 4, 2022stonex.comJosh LinvilleNov 4, 2022Not 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.
