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Global urea markets remain firm, with Egyptian granular urea trading above $230/t FOB for December shipment. Chinese urea output has been cut to a level below domestic demand, and a fresh Indian tender is expected to test tight supply.
Reduced Chinese exports and a tight market support higher nitrogen costs, which feed into grain production economics. Upward pressure on fertilizer costs can lift corn and wheat prices over time.
farming.co.ukNov 11, 2016After 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.
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.
