Agricultural markets were relatively quiet on Thursday. Hog futures continued to move sharply higher. The May contract wasn’t able to trade below 9000 yuan per ton, and the July contract had previous support at 10,000 yuan per ton. The move doesn’t seem to be in response to any change, but rather due to hog futures being deeply oversold.
Urea futures were higher on the results of India’s tender, which saw prices ranging from $1,000 to $1,136 per ton, according to Reuters.
I still think it’s unli...