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China is ending its seasonal urea export window and is set to restore its export tariff from about 2% to 110%. US retail urea prices were mixed, with the regional average up $3.31 to $497.56 per ton in the latest week.
The author expects prices to level off and possibly turn higher.
Restoring China's high export tariff removes a major source of supply from world urea markets, which is supportive for global urea prices into early 2021.
agweb.comNov 18, 2020After 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.
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.
