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Tidbits, Estimates, Urea, Broilers & Ethanol, Markets & Rain Days Update 1/5/24


The weather outlook for Brazil’s main growing area looks to be turning drier and warmer next week. Watch the number of rain days in the 10 day forecast we report every day. The first two locations, Rondonópolis and Campo Grande, are in the central part of Brazil where most of the beans and corn are grown.  


India is the world’s largest user of urea and it imports ~30% of its urea, which makes it the world’s largest importer of urea. What India pays for urea is the benchmark for nitrogen prices around the world.


India buys the urea in one+ million mts lots. Most purchases are in the range of 1.5 mil. mts. In 2022, India imported 10.2 mil. mts at an average cost of $638 per mt CFR (cost of product and cost of freight to destination). 

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