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Profercy reports that urea prices rose in early March despite the broader economic slump from coronavirus. Egyptian, Middle East and Indonesian offers climbed, and US Gulf import demand pushed NOLA barge values higher.
China's absence from the export market and upcoming Indian demand kept supply tight.
Tight export supply from China and strong US import demand keep urea prices firm globally, which raises nitrogen input costs for feed grain producers.
profercy.comChris YearsleyMar 6, 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.
