BASIC & RECENT MARKET INFO

By Roger Wright. Sent to Wright on the Market Clients 9 February 2025 The big spec funds (aka managed money) have bought a very large...

Tidbits World urea prices this past week were down ~4%, despite the Indian tender. Phosphate prices were mostly unchanged except Single Super Phosphate 20% (SSP) was a bit stronger. MOP prices were mostly steady to up ~3% at around $310 per mt CFR Brazil (delivered to the ports).   Brazil’s farmers are waiting to decide what fertilizer and seeds to purchase for the new crop growing season. Weather and prices are out of whack.   Our clients in the Southeast USA are saying cott

Highlights Late yesterday US time, the US launched airstrikes against Iran-backed militias in Syria and Iraq as the Mideast war continues to expand. The US struck 85 targets linked to Iran’s Islamic Revolutionary Guards Corps’ Quds Force and affiliated groups. “Our response began today,” Biden said in a statement, “It will continue at times and places of our choosing.”   It was widely rumored at midday Friday that a substantial military strike would be launched within hours.

Tidbits A US Navy vessel is being fired upon almost every day now in the Red Sea area.   LanzaJet is a leading sustainable fuels technology company. As a Sustainable Aviation Fuel (SAF) technology provider and producer of alcohol-to-jet (ATJ) technology, LanzaJet is accelerating the deployment of SAF. Lanzajet opened their Freedom Pines Fuels facility, the world’s first ethanol-based alcohol-to-jet sustainable aviation fuel (SAF) commercial production plant in Soperton, Georg

Highlights Soybeans traded sharply higher yesterday morning, possibly for several reasons. China announced that they are lifting quarantine requirements for travelers coming into China on Jan 8th and the weekend was a bit drier in Argentina than was expected. China refers to home grown soybeans as #1 beans and imported soybeans as #2 beans. Yesterday, #1 beans were 2 to 3 cents higher, #2 beans were 59-60 cents higher, soymeal US$5-6 higher, soy oil 241 points higher, and pal

The CBOT will begin trading this morning at 8:30 AM Central Time. Crude oil traded a buck forty higher an hour after opening last evening. Highlights Yesterday, a drone launched by Ukraine hit the main base for Moscow's strategic bombers hundreds of miles deep into Russia, who said it had shot the drone down causing it to crash at the Engels Air Base. The base is the main airfield for the bombers that was used to attack Ukraine’s infrastructure. Three Russian service members