Brazil: Market players prefer samba to urea

摘要

The urea market in Brazil died its traditional carnival death this week as market players concentrated on samba and parades rather than granular urea. Prices are therefore left unchanged from last wee and are recorded indicative. The latest estimates of Safrinha corn acreage suggest a 6% year-on-year drop, up on previous expectations for a 10% decline, according to CRU analysis. Still, nitrogen demand in Brazil is likely to be capped after an exceptional growing season last year.