Fertilizer Holiday Update 4/1/21

AG UREA Despite the break, we saw relatively steady two-way interest on the nearby expiry for AG paper, with buyers and sellers both jockeying around 270 value for the January contract. Trading eventually occurred at that level, on the back of spreads. Conviction further out the curve has been slightly lower, although we see the …

DCE starts the year on high note

Iron ore futures opened low, only to finish higher after an afternoon rally that pushed trading to high note. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) then rose to 3.35% on-day or RMB 33 to RMB 1,019.50/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange also hiked …