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Global urea prices kept rising after India booked only 732,000 tonnes in its latest tender. Brazil returned to the market, and traders were rushing supply to India ahead of possible Chinese export controls.
European gas prices hit new highs, and European and US supply remained constrained.
Competition for limited urea supply between Western buyers, Brazil and India, plus possible Chinese export restrictions, keeps upward pressure on prices. Feed producers face higher nitrogen input costs for the coming crop cycle.
profercy.comChris YearsleyOct 8, 2021After 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.
