US NOLA: Bears almost stop urea run

摘要

Granular urea at New Orleans gained an average of $5/st this week, but traders saw bearish signals as the peak price for this week fell to $249/st FOB New Orleans, after last week's high of $253/st FOB. The New Orleans week started with lower offers compared to last week, but the market stood almost still for about 48 hours due to India's difficulty in securing granular urea at an attractive price, according to barge traders. However, for first time in about a month US pressures began to exert more control over the key US benchmark.