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The global urea market drifted with few new signals this week, and buyers held back amid uncertainty over price direction. MOPCO in Egypt placed 180,000 tonnes of granular urea for shipment to Latin America in April-September, while US barge prices in New Orleans fell below $240/short ton FOB.
Weak sentiment and buyer hesitancy point to downward pressure on urea prices, and urea is a key nitrogen input whose cost feeds into feed-grain production economics.
vinachem.com.vnMar 19, 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.
