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Profercy's World Nitrogen Index ended Q1 2018 at 118.52 points, up from 111.03 a year earlier, but fell 6.55 points during the quarter. Most of the drop came in the last three weeks, after Eastern demand faded in mid-March.
Chinese urea exports fell 90% year on year in February 2018.
Urea prices lost support as Chinese export absence was offset by weak Western demand, pointing to softer nitrogen input costs for feed grain production. The market remains sensitive to any return of Chinese supply.
profercy.comChris YearsleyApr 3, 2018Not 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.
