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International urea prices weakened collectively on November 13, with quotes lowered in the Middle East and Egypt, where high-end offers fell by $15-30 per tonne. Domestic Chinese urea export prices also continued to decline, while India and Iran held steady and Brazil was mixed.
Lower export offers from the Middle East and Egypt reduce the export support for Chinese urea and signal softer global nitrogen fertilizer pricing, which could weigh on fertilizer costs for feed producers.
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.