Volatility prevails, but major indicators point south

摘要

The global urea market has been relatively stable this week, but the softer undertone in evidence over recent weeks prevails. US values at New Orleans moved down only slightly this week, while inland prices generally held their ground. Overall, the US market still is positioned to attract spot cargos from Middle East, but not from China. Additional cargos for the US Gulf also seem more likely given continuing weakness in Brazil.