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India's IPL secured just under 1.4 million tonnes of urea for February and March shipment after its tender. Global urea values eroded further as demand from other import markets remained weak and Russian and North African material remained available.
Ample supply and weak non-India demand point to softer nitrogen prices in the near term. Lower fertilizer costs are a modest supportive factor for grain margins.
profercy.comChris YearsleyFeb 18, 2022Not 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.
