NOLA urea values have hit $700 for a fresh recent high. This is still $50 less than replacement during a time where NOLA should be a $10 - $30 premium.
This isn't the highest we have seen:
Late March 2022 reached over $900
New crop corn at that time was upper $6/lower $7
Is this a step to doing away with DEF?
If they ultimately get rid of DEF requirements, it would be a two-fold win for farmers:
- Remove cost of DEF from operations
- Return those nitrogen units back to farmers where they belong
Global urea market has two big events happening in the next 24-hours:
- India urea purchase tender offers are due
- China's export window closes
However, we may not know the answer to either until late this week/early next.
Until then, everyone is left to sit and be nervous!
A1 Area
GM1
Elk South 0
Wolfe Electric 1
FINAL
Scholting CG 7IP 3H 0R 1BB 14K🔥
—
Longlee 2H 2B SB
Thiel 2H 2B 1R
Betts 2H BB 2SB
Skoumal 1H 2B
Meeks with the walk off sacrifice fly!
Cats will play Saturday 4pm vs the winner of Papio/Ralston