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Urea market found buying interest after reports that India's IPL could issue a fresh purchasing tender as early as next week. Egyptian granular urea fell to around $600/t fob earlier in the week, and Algerian sales were reported at up to $620-640/t fob.
A possible Indian tender for February-March shipments would support urea prices after a sharp slide from the December peak near $960/t. Lower fertilizer costs could ease feed-grain production costs in coming seasons.
profercy.comChris YearsleyJan 28, 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.
After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
