11/19/2024 End of Day Fertilizer Market Update
International
- International paper markets turned in a fairly active day
- Global urea paper price ideas continue to slide
- Raises the question of when demand will return
- Paper trades today
- December Middle East Urea Paper - $338
- January Middle East Urea Paper - $335
- December CFR Brazil Urea Paper - $338
- December Egypt Urea Paper - $359
- January Egypt Urea Paper - $360
North America
- Common conversation continues to be "when will it be dry enough to start applying"
- Lot of angst but growing hope in the forecast
- We will get a run
- Just may not be the run we were hoping for
- Paper trades today
- December NOLA Urea Paper - $315 / $312 / $312 / $312
- January NOLA Urea Paper - $318 / $320 / $317
- February NOLA Urea Paper - $330 / $320
- March NOLA Urea Paper - $330 / $324 / $320
- Q1 '25 NOLA Urea Paper - $320
- April NOLA Urea Paper - $330
- Physical trades today
- January NOLA Urea Physical - $315
This material should be construed as the solicitation of an account, order, and/or services provided by the FCM Division of StoneX Financial Inc. (“SFI”) (NFA ID: 0476094) or StoneX Markets LLC (“SXM”) (NFA ID: 0449652) and represents the opinions and viewpoints of the author. It does not constitute an individualized recommendation or take into account the particular trading objectives, financial situations, or needs of individual customers. Additionally, this material should not be construed as research material. The trading of derivatives such as futures, options, and over-the-counter (OTC) products or “swaps” may not be suitable for all investors. Derivatives trading involves substantial risk of loss, and you should fully understand the risks prior to trading. Past results are not necessarily indicative of future results.
All references to and discussion of OTC products or swaps are made solely on behalf of SXM. All references to futures and options on futures trading are made solely on behalf of SFI. SXM products are intended to be traded only by individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of SXM.
SFI and SXM are not responsible for any redistribution of this material by third parties, or any trading decisions taken by persons not intended to view this material. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. Contact designated personnel from SFI or SXM for specific trading advice to meet your trading preferences.
Reproduction or use in any format without authorization is forbidden.
© Copyright 2024. All rights reserved.