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US Gulf (NOLA) urea barge trading showed steep backwardation this week, with distributors buying imported urea below $234/short ton fob and bids rising to $238-240 for early-March barges. Logistical problems from high river water and weak international urea sentiment weighed on importers, while domestic producers were not actively selling March barges.
Tight near-term barge availability and inland logistics constraints keep prompt NOLA urea firm even as import sentiment is weak, which supports nitrogen costs for feed-grain producers in the near term.
profercy.comChris YearsleyMar 8, 2019After 49 past bullish logistics events, Urea moved a median -0.3% over 5 sessions (45% higher; middle half -1.3% to +2.2%), and -0.4% over 20.
Not 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.
