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NOLA urea rose more than $20 per short ton in one week to about $236 FOB for February barges, with March barges at $240. Distributors bought March tonnage as Q1 import line-up fell below 800,000 tonnes versus 1.38 million a year earlier.
A tight US import pipeline ahead of spring application raises nitrogen input costs for corn growers and supports urea prices into the planting season.
profercy.comChris YearsleyFeb 7, 2020After 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.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
