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Global nitrogen fertilizer values fell sharply in late August 2021, with urea offers in the Arab Gulf and China dropping about $20-25/t week on week. The decline was driven by a delayed Indian urea tender, which left producers cutting prices to place product in markets such as Brazil.
Traders were also taking short positions.
With India's tender postponed, urea supply is pressing into the September shipping window and pushing prices lower. Feed buyers should expect softer nitrogen costs in the near term unless the Indian tender returns quickly.
profercy.comChris YearsleyAug 27, 2021After 81 past bearish trade events, Urea moved a median -1.0% over 5 sessions (28% higher; middle half -7.2% to +0.4%), and -5.5% 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.
