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Middle East FOB urea fell 12% overnight, returning to its 200-week moving average. The move produced a weekly oversold reading last seen three years ago.
The post also tracks wheat and Japan Korea LNG prices alongside urea.
A sharp fall in Middle East urea signals lower nitrogen costs for feed grain producers. The oversold reading suggests the decline may be extended or may be followed by a technical rebound.
robzdravevski.comJan 27, 2023Not 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.
Reports a 12% overnight drop in Middle East FOB urea to its 200-week moving average, which closely matches the size and timing of the one-day move and points to technical, sentiment-driven selling.
