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US Gulf (NOLA) granular urea barges fell to about $215 per short ton fob, the lowest in 18 months, before a small rebound to $220. Prices have dropped more than $35 since late September as suppliers cut offers to find buyers in the off-season.
Competition for Indian tender business has been intense, with China taking close to half of recent tenders.
Weak international sentiment and aggressive offers from suppliers point to continued softness in US nitrogen prices heading into the off-season. Lower fertilizer costs can help feed-grain margins for buyers.
profercy.comChris YearsleyOct 25, 2019Not enough comparable past events yet for a historical read.
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.
