Loading…
Urea is in tight near-term supply across south-eastern Australia after last year's drought shifted grain logistics to up-country markets and cut urea backloads from farm to port. Widespread rain has driven spreading activity that has emptied most off-farm storage.
Local shortages are expected to be brief with little yield impact, so the effect on global urea prices is limited, though it signals firm regional demand.
graincentral.comLiz WellsJul 12, 2019After 30 past bullish weather events, Urea moved a median +1.4% over 5 sessions (67% higher; middle half -0.3% to +1.6%), and +9.1% 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.
