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A Hungarian monthly agricultural analysis says urea prices fell more than $50 per ton after India cancelled a November tender of about 770,000 tonnes, then recovered about $30 as the market adjusted. Prices softened again in January because of weak European demand and unsold stocks in the Mediterranean.
India's tender behavior is a key swing factor for global urea demand, and weak European buying points to continued softness in nitrogen costs. Lower fertilizer prices help feed-grain producers' margins.
agraragazat.huÍrtaFeb 14, 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.
