What a difference a day makes, even in urea

摘要

An exciting week in urea markets is coming to an end, marked by price volatility rarely seen in recent weeks. The US market took the lead as perception of shortages for spring application gained traction, and barge values raced ahead hour by hour starting February 5. The surge so far culminated with March trades at $240/st FOB New Orleans, up from the January 23-30 low end at $209/st FOB and a level last seen October 10, 2019. Prompt barges changed hands at $235/st FOB, closely matching October 17 averages.