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Chinese urea suppliers raised offers to the low-$280s/t FOB after India's 1 July MMTC tender, with some seeking extensions past the 16 August shipment deadline. Traders short against Indian business covered positions from Oman, the FSU and Indonesia at prices above last done.
Firm Chinese offers and covering buying support near-term urea prices, tightening the nitrogen cost outlook for feed and grain producers.
profercy.comChris YearsleyJul 15, 2019After 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.
