Watching Urea and its cousins in price action

I’m still waiting for the price of Urea to crater.

In January 2023, I wrote this…

I am yet to initiate any long positions in Urea or other correlated price relationships.

Moreover, the price action in Urea isn’t acting in a healthy manner.

This view is being influenced by my opinion that Natural Gas may either fall or rise by 60% from its recent $2.50 price.

My bias is for lower Natural Gas prices and thus we should see pressure on Urea, Wheat and Fertilser prices too.

That’s where the buying opportunities will appear but I am waiting for now.

April 2, 2023

by Rob Zdravevski

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