Middle Eastern Urea prices join the Oversold parade

Overnight’s stunning 12% decline in the Middle East FOB Urea price has seen it revert back to its 200 week moving average, as the chart below illustrates.

It also registered a Weekly Oversold reading which was last seen 3 years ago.

The other 2 charts included show how the prices of Wheat and the Japan Korea LNG Marker dance along with the Middle Eastern Urea price.

January 27, 2023

by Rob Zdravevski

rob@karriasset.com.au