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China's National Development and Reform Commission has opened an investigation into the urea market after prices hit a record. Urea rose 9% in early June to 2,674 yuan per ton.
The futures contract fell about 3% on the news.
Government intervention to curb urea prices could limit domestic price gains and weigh on export pricing, which reduces global urea support. Slower Chinese fertilizer prices could also ease the cost pressure on grain producers.
financialpost.comReutersJun 28, 2021
thestandard.com.hkJun 28, 2021After 34 past bearish policy events, Urea moved a median -0.8% over 5 sessions (38% higher; middle half -3.3% to +1.8%), and -4.5% 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.
