Calum Findlay, ADM Agriculture’s head of fertiliser, comments on the markets

Hemswell, Lincolnshire, 17 December 2020

The granular urea trade has eased off globally as we head into the holidays. US urea is firm, whilst North African prices remain stable, supported particularly by European buying in recent weeks.

UK markets have been active over the past week with business on granular urea increasing. Replacement values for January are about £20/t higher than current levels and stocks are short in the UK. Price increases are therefore likely. 

UK ammonium nitrate values remain unchanged at present, although firmer urea prices could help support the market after the Christmas break. More buying commitment has been seen.

Liquid UAN values are stable and terms will be pulled tomorrow for the Christmas break. Spring fill business could be higher afterwards if the expected increases on urea and AN materialise.