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The Profercy World Nitrogen Index declined again this week as most urea buyers stayed out of the market. Granular urea prices in the US and Brazil improved as demand emerged early in the week.
Eastern producers are looking to India for September shipments, with the market expecting a new Indian purchase inquiry soon.
Weak buying in most regions is pressuring urea offers, though Brazilian and US demand provides some support. A new Indian tender would be a key price catalyst for fertilizer costs that feed into grain and feed production economics.
profercy.comChris YearsleyAug 13, 2021Not 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.
