CAN market softens, Urea shorts covered

摘要

CAN: While the major EU granular CAN producers have not announced new prices for CAN for May, they have accepted to sell good volumes of CAN over the past two weeks at ?270 pt cif inland. There are reports of occasional cargoes of Polish CAN offered for resale between ?265 and 270 pt. The lack of moisture in the ground, has restricted CAN demand. In the north, the ground is so dry that in certain areas, farmers have started to plough under their rapeseed crop in order to plant corn. They missed the moment three weeks ago to switch to wheat, so now they mainly have corn as the replacement crop. It is clear the supply chain is being emptied out, because when customers buy CAN today, they want to load tomorrow, on a back-to-back basis. Two weeks ago the official price was ?290-291 pt. Turkish prilled CAN is now on offer at ?255 pt in bulk fot Baltic.