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Urea prices have recovered over the past three weeks in several markets, supported by buying from Latin America, particularly Argentina, and by African demand for prilled urea. Prices in Southeast Asia have also firmed as China has stayed out of the export market since March.
Renewed import demand and limited Chinese export supply support nitrogen fertilizer prices, which raises the cost of corn and other crop production.
profercy.comChris YearsleyJun 22, 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.
