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NOLA urea prices were largely stable over the past month, trading as high as $260/ton FOB in mid-June and easing to about $245 in early July. Global ammonia remains weak on few turnarounds, cheap natural gas and little spot interest, with the July Tampa contract settled at $215/mt CFR, the lowest since September 2017.
Soft ammonia and urea values point to ample nitrogen supply and modest input-cost relief for feed grain producers ahead of the fall application season. Any Indian spot demand could tighten the market, but it has not yet done so.
dtnpf.comKarl Stenerson Market ReporterJul 15, 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.
