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CRU analysts report that global urea prices fell sharply to new lows on weak demand. Several European plants have closed as Egyptian offers undercut them, and Middle East forward urea fell to $322/t for December.
Farmers in Europe are holding off purchases and expecting lower prices.
Cheaper Egyptian supply and European plant closures push urea and other nitrogen prices lower, with buyers delaying purchases to wait for further declines.
cenyrolnicze.plRedakcjaDec 2, 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.
