
Global urea activity stayed subdued through November as buyers awaited results of an Indian urea tender. The November 26 tender filled only 1.4 million tonnes of a 2.5 million tonne requirement, with India struggling to secure volume as Chinese exporters stayed largely out.
Chinese phosphate exports were down sharply over the first ten months of the year, keeping phosphate markets stable, while DTN retail data showed most fertilizer prices rising in early November.
Under-filled Indian tenders and limited Chinese export availability keep global nitrogen and phosphate supply tight, supporting fertilizer prices. Feed buyers should expect input costs to stay firm, which weighs on feed margins.
Setelah 683 peristiwa perdagangan bearish sebelumnya, Jagung bergerak median -0,2% selama 5 sesi (47% lebih tinggi; separuh tengah -1,7% sampai +1,6%), dan +0,3% selama 20 sesi.
Setelah 176 peristiwa perdagangan bullish sebelumnya, Urea bergerak median +0,1% selama 5 sesi (51% lebih tinggi; separuh tengah -1,3% sampai +2,4%), dan +1,6% selama 20 sesi.
Setelah 193 peristiwa perdagangan bullish sebelumnya, DAP bergerak median +0,4% selama 5 sesi (54% lebih tinggi; separuh tengah -0,3% sampai +1,8%), dan +1,9% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
The Indian tender on Nov 26 filled only 1.4 of 2.5 million tonnes with Chinese exporters largely absent, signaling weak global demand and buyers holding back, which is bearish for urea prices ahead of Dec 1.