CAN rises further, urea on the rise

摘要

CAN: Interest in buying CAN 27 is increasing among retailers and farmers. Relatively warm weather means that application could start in two weeks' time and there is general acceptance now that prices will not weaken during Q1. OCI raised its CAN price to ?270pt cif inland for February deliveries, ?18pt up on January and only slightly below the current Yara price of ?275pt, which is effectively for March deliveries. A further increase is anticipated later in February when Yara, OCI and K+S set new prices for March-April delivery. Distributors expect a sizeable rise - possibly ?10-15pt - as the nitrogen market is very firm and crop prices are so high that farmers will buy the fertilizer anyway.