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Granular urea prices rose week-over-week in the week ended October 27, 2017, with the Cornbelt up 2.9% to $257/mt, NOLA up 2.0% to $227/mt, and the Middle East up 1.5% to $266/mt. Prilled urea at Yuzhny rose 2.2% to $275/mt.
Prices were 24% to 42% higher year-over-year across the locations.
Firmer urea prices raise feed-grain input costs for nitrogen-dependent corn growers and point to tighter nitrogen supply as excess capacity is absorbed. China's slowdown as an exporter is a key factor supporting prices.
marketrealist.comAdam JonesOct 30, 2017Not 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.
