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India's RCF urea purchasing inquiry concluded with letters of intent for about 1.65 million tonnes for shipment by July 5, with counter offers at $716.50/t CFR west coast and $721.30/t CFR east coast. Egyptian urea prices rose $23/t FOB on late-season Mediterranean demand.
Large Indian bookings remove significant tonnage from the market and provide support for urea prices, sustaining nitrogen costs for feed producers.
profercy.comChris YearsleyMay 20, 2022After 176 past bullish trade events, Urea moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +2.4%), and +1.6% 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.
