Reuters reported on Wednesday that China has issued export quotas for urea fertilizer, but there were no other confirmed details.
The urea market has seen a huge amount of rumors and speculation in recent months. Prices rallied near the end of April based on a rumor from an industry conference that the government would increase exports, and September futures hit a high of 2,082 yuan per ton. The market then fell when it was perceived to be an unfounded rumor.
On April 28, Futures Daily said that...