Weather, mostly rain, has interrupted application across much of Europe. France and the UK are the only large market to be applying regularly, with farmers working on first application in France at present. Urea prices have risen as suppliers look to capitalise on rising international prices, though some particularly ambitious offers have had to be revised downwards. European buyers would do well to delay purchases until the US market has cooled off, and indeed there is every sign that they are. The fundamentals for the urea market are unchanged, and the likelihood is for much lower prices in the second quarter.
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