US NOLA: Global market drags barges higher

摘要

Granular urea at New Orleans has jumped substantially this week, but while most eyes were on the approaching Hurricane Irma, the force behind the bull market came from overseas. Early in the week a $200/st FOB prompt trade was reported basis New Orleans, but then prices jumped first to $210/st, then $213/st, $215/st, $217/st FOB and eventually to $224/st FOB for prompt granular urea barges.