Calum Findlay, Gleadell’s fertiliser manager, comments on the fertiliser markets

Urea

UK buyers continue to surface and this week has been busy with top-up tonnes in the eastern arable sector. Interest is appearing in the western grassland areas where farmers have been sitting it out for as long as possible. New-season values continue to be a talking point and, although FOB values reflect a five-year low, currency is preventing values from reaching the levels where many were hoping to buy.  

Ammonium nitrate

Little change with GrowHow holding prices, reflecting the market in Europe which remains firm due to tight supply. Any new-season price correction looks highly unlikely in the short term, although importers continue to sell product below the cost of replacement values as they look to clear stocks in a nervous fashion.