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Urea prices rose across major markets on demand from the US, Europe and Brazil, with Brazil's Safrinha season still needing to cover about 30% of its requirements. Indonesia blocked exports by withholding port clearance, China stayed out of the export market, and Red Sea disruption is hampering ammonia supply.
Potash prices continued to decline while phosphate remained muted.
Export restrictions from Indonesia and China plus Red Sea ammonia logistics reduce available urea supply, supporting higher nitrogen prices for feed-grain costs. Weak potash suggests lower prices for that nutrient.
czapp.comStein Chingen HauganJan 22, 2024After 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.
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.
Strong demand from the US, Europe and Brazil combined with Indonesian export blocks, China's absence from exports and Red Sea disruption tightened supply, supporting sharp urea price gains.
