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India booked 750,000t of urea in a tender after Iran was excluded due to US sanctions, paying four-and-a-half-year highs of about $353-356/t CFR. Supply will come mainly from the Arab Gulf and China, with shipment due by 19 November.
Sanctions removing Iranian supply and China's reduced export appetite keep nitrogen prices elevated, raising the cost of feed-grain production and fertilizer inputs for farmers.
profercy.comChris YearsleyOct 15, 2018After 205 past bullish geopolitics events, Urea moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.0%), and -0.4% 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.
