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Profercy's World Nitrogen Index ended August at 141.01 points, its highest since July 2015, with August's average 33% above August 2017. Granular urea for October shipment sold above $300/t FOB in the Arab Gulf, and Brazil saw sales above $310/t CFR.
Chinese nitrogen exports are falling sharply from 4.7 million t in 2017.
Shrinking Chinese export supply is tightening global urea markets while seasonal demand builds, supporting higher nitrogen input costs for feed grain production and pointing to firm urea prices.
profercy.comChris YearsleyAug 31, 2018After 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.
