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Nitrogen prices kept rising across markets, with urea producers largely sold out for the month ahead. Egyptian and Middle East urea rose sharply, and Brazilian urea climbed about $40/t to $390-395/t CFR.
Phosphate prices also edged higher, while potash was flat.
Strong Brazilian buying and a delayed Indian tender tighten near-term urea supply, pointing to higher nitrogen costs for feed producers and some pressure on phosphate-based inputs.
farmingportal.co.zaJul 22, 2023After 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.
After 193 past bullish trade events, DAP moved a median +0.4% over 5 sessions (54% higher; middle half -0.3% to +1.8%), and +1.9% over 20.
Not 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.
Producers largely sold out for the month ahead and Brazil CFR rose about $40/t, indicating tightening supply and a turn in the price trend.
Reports that the fertilizer downturn is over, with phosphates edging higher and nitrogen rallying, signal a sentiment and price turn that lifts DAP.
Urea producers were largely sold out for the month ahead and Brazil CFR rose about $40/t, which shows tightening supply and a turn in the market.
Reports that the downturn was over with producers sold out and Egypt, Middle East and Brazil prices rising set up the momentum and tight prompt supply.
It reports the fertilizer downturn ending, with phosphates edging higher alongside surging nitrogen, building momentum ahead of the move.
