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The Profercy World Nitrogen Index fell 2.42 points to 119.98 this week, its first decline in a month, as urea values eased in the west and Middle East. Trade was thin after India's MMTC issued letters of intent for about 1.3m tonnes, and suppliers cleared remaining December availability.
Softer urea values in key export regions mean lower nitrogen input costs for fertilizer buyers in the near term, though China is the exception with rising prices.
profercy.comChris YearsleyDec 11, 2020Not 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.
