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

Hemswell, Lincolnshire, 1 October 2020

India has returned to the market, announcing a further urea tender for an undisclosed tonnage late yesterday. 

Global prices reacted immediately, rising $5-10/t on the day, having traded down almost $30/t during September from the August highs.

The UK urea market remains slow, but there is still a clear opportunity to buy today for Q4 in a market that, at some stage, will move up again.

CF pulled terms with a firming picture for Q4 emerging. A large winter cropping area is slowly being realised, there is new-found stability in the urea market and raw material costs remain steady to firm. 

Phosphates values are increasing as replacement costs continue to rise.