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Chewachem's Q3 review reports urea ended the quarter near $385 CFR, up 1.4% for the quarter, while DAP rose 11% on limited supply. Potash drifted weaker.
China did not export urea in Q3, and the Thai baht strengthened 11% against the dollar.
China's export restrictions keep global urea supply tight, supporting nitrogen prices. Firm phosphate costs add to input expenses for feed grain and oilseed growers.
chewachem.comMark LeonardOct 1, 2024After 76 past bullish report events, Urea moved a median 0.0% over 5 sessions (49% higher; middle half -2.2% to +2.9%), and -0.3% over 20.
After 66 past bullish report events, DAP moved a median 0.0% over 5 sessions (41% higher; middle half -0.6% to +0.7%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% 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.
