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Urea prices in NOLA moved between $620 and $720 per short ton from April 22 to May 4, with import cargoes arriving ahead of schedule and a delayed spring slowing warehouse movement. StoneX's Josh Linville says long positions face mounting storage and financing costs.
He expects demand could rise if spring NH3 application stays weak and corn acres remain, pushing N demand toward urea.
Oversupply in the import pipeline is pressuring prices lower in the near term, but urea's steep discount to UAN could draw spillover nitrogen demand later. Price direction depends on how the planting season develops.
stonex.comJosh LinvilleMay 5, 2022Not enough comparable past events yet for a historical read.
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.
