adds latest trade for March shipment
US granular urea prices extended gains today, with March barge values up by as much as 4pc from morning business.
About 16,500 short tons (st) of urea for shipment in second-half March transacted from $673-675/st fob Nola, up from full-March trade at $652/st fob Nola earlier today.
The increase in March values tracks higher values for April cargoes, which also climbed by up to 4pc from last-confirmed business this week.
Barges traded this morning from $670-677/st fob Nola for April shipment.
The jump in March and April values comes on the heels of surging Egyptian urea values up to $827/t fob for March shipment. Egyptian prices have rallied by more than $200/t since Russia's invasion of Ukraine began on 24 February.
