US NOLA: Volatility returns with a vengeance

摘要

Price volatility marked the start of the year in trades in granular urea barges at New Orleans as importers holding length from inbound carriers rushed to dispose of as much tonnage as possible ahead of the vessels' arrivals. Trades in US-quality granular were confirmed down to $202/st FOB for prompt January positions and early February barges traded down to $205/st FOB. These were down from the pre-holiday low of $216/st FOB and even more so from January 4 trades reported at or marginally below $215/st FOB.