Loading…
Urea values hit record highs in January 2021, with US Gulf NOLA prices up 45% over the month to $365/st fob. Egyptian and Arab Gulf granular urea also reached their highest levels since 2014.
Strong demand from the US, Europe, Latin America and Turkey, plus anticipated Indian buying, is tightening the market.
Rising nitrogen fertiliser costs increase corn production expenses and may support corn prices for the coming season. Tight global supply and expected Indian demand suggest prices could keep climbing.
profercy.comChris YearsleyJan 29, 2021profercy.comChris YearsleyJan 29, 2021Not 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.
Record-high urea values with NOLA up 45% in January and strong US, European, Latin American, Turkish and anticipated Indian demand directly describe the tightening market behind the price spike.
Directly describes record urea prices in January 2021, with NOLA up 45% on strong US, European, Latin American and Turkish demand and anticipated Indian buying tightening supply.
Record January urea values, with NOLA up 45% on strong US, European, Latin American and Turkish demand and expected Indian buying, directly explain the sharp price rise.
