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Brazil's customs data show urea imports of 2.66 million tonnes from July to October 2020, up from 1.76 million a year earlier. Year-to-date imports are 5.48 million tonnes, and about 1 million tonnes more are expected than in 2019 after November and December arrivals.
Strong Brazilian import pull supports urea prices in Latin America and reflects robust farm economics, although cfr prices have eased from August highs as supply has become ample.
profercy.comChris YearsleyNov 11, 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.
