France: Spot granular still trading above forward

摘要

Sales of granular urea for prompt loading were confirmed again this week in a relatively narrow ?230-233/mt FCA range in the French Bay, suggesting delivered values around $260/mt CIF based on the value of the euro around an even $1.18. These imply returns to Egyptian sellers close to $230/mt FOB, but volumes trading over the week were limited to around 5,000 mt.