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StoneX analyst Josh Linville expects urea values to be steady to softer over the next month following the latest India purchase tender. The tender offered a small volume of about 1.65 million tonnes with very wide price spreads.
Linville says the world market remains fundamentally supported by tight trade balances and signs of reduced Chinese exports.
Expected softness in urea over the coming month lowers near-term fertilizer costs, but tight global balances suggest a rebound later. Feed and grain producers should watch Indian tender results and Chinese export policy for direction.
stonex.comJosh LinvilleAug 3, 2021stonex.comJosh LinvilleAug 3, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
