Fertilizers · Weekly Forward Curve
Middle East Granular Urea Forward Forward Curve — FOB Middle East
The latest FOB Middle East granular urea forward assessment is $410.00 per metric ton for 3 September 2026, up $15.00 from the previous weekly assessment (20 Aug 2026). Explore the historical price chart and recent weekly assessments below.
Latest Middle East Granular Urea Forward Price
- Basis
- FOB Middle East
- Unit
- USD/mt
- Frequency
- Weekly
- CS code
- CS-ARG-DER-ME
What This Indicator Measures
Weekly bid/offer/mid values for FOB Middle East granular urea swaps by contract month and provider, in USD/mt; the page history follows one tenor and provider.
Urea Swaps (Forward Curves): Weekly bid/offer/mid values for urea swaps by contract month and provider, for NOLA, Egypt, Middle East and Brazil. The history uses one tenor and one provider so the chart is a continuous series.
Specification · stated by the source for this series
- Contract months and provider — loaded per edition.
- FOB Middle East · Direct Hedge · M1 history
- Provider is stored with the contract month (e.g. Direct Hedge); tenor and provider are shown in the tenor table.
Basis: FOB Middle East
- FOB Middle East urea swaps; weekly bid/offer/mid by contract month. Provider is shown with each contract month.
- FOB (free on board): the price covers the product loaded on the vessel at the named origin; sea freight and insurance to the destination are excluded, so FOB values from different loading areas are not delivered-cost equivalents.
- Middle East urea loads from plants in the Gulf states (e.g. Saudi Arabia, Qatar, Oman, UAE, Bahrain) and Iran; the basis is the loading port.
Unit: USD/mt
- USD/mt (USD/st for NOLA), same as the physical market.
Middle East Granular Urea Forward Price Chart
Available history 29 Jan 2026 through 3 Sep 2026 (18 observations). Monthly averages below use the midpoint of each published assessment. FOB Middle East · Direct Hedge · M1 history
Granular Urea Forward — Middle East
Computed Summary
Statements below are calculated by CommodityScope from the loaded history only. Each one names its period and method; none explains why a value moved.
The latest swap mid of $410.00/mt on 3 Sep 2026 is up $15.00 (+3.8%) from the previous weekly assessment (20 Aug 2026).
Method: Computed by CommodityScope as the difference between the two most recent loaded weekly observations (14 calendar days apart).
It is 2.5% above the August 2026 average of $400.00/mt, the most recent completed month with 3 weekly observations.
Method: Arithmetic mean of the published weekly midpoints in August 2026. Partial months are excluded from this comparison.
Over the loaded history (29 Jan 2026 – 3 Sep 2026), the highest swap mid was $785.00/mt on 23 Apr 2026 and the lowest was $380.00/mt on 13 Aug 2026.
Method: Minimum and maximum of the published M1 mid over the loaded history (29 Jan 2026 – 3 Sep 2026, 18 observations). This is not an all-time record.
Price Changes and Historical Range
Published changes are copied from the source edition. Computed changes are CommodityScope calculations between loaded weekly observations; the two are shown separately and may differ when an intermediate edition is not loaded.
Latest forward tenors
| Tenor | Contract | Bid | Offer | Mid |
|---|---|---|---|---|
| BALMO | 2026-09|Direct Hedge | 395.00 | 425.00 | 410.00 |
| BALMO | 2026-09|Falcon | 390.00 | 435.00 | 413.00 |
| M1 | 2026-10|Direct Hedge | 395.00 | 425.00 | 410.00 |
| M1 | 2026-10|Falcon | 390.00 | 430.00 | 410.00 |
| M2 | 2026-11|Direct Hedge | 395.00 | 425.00 | 410.00 |
| PREVIOUS | 2026-08|Falcon | 395.00 | 440.00 | 418.00 |
Monthly Middle East Granular Urea Forward Prices
Average, minimum and maximum of the weekly midpoints in each calendar month — these average weekly assessments, so a month typically has 4–5 observations. Incomplete latest months are marked month to date.
| Month | Average mid | Min mid | Max mid | Observations |
|---|---|---|---|---|
| September 2026Month to date | 410.00 | 410.00 | 410.00 | 1 |
| August 2026 | 400.00 | 380.00 | 425.00 | 3 |
| July 2026 | 444.00 | 443.00 | 445.00 | 2 |
| June 2026 | 455.00 | 395.00 | 530.00 | 4 |
| May 2026 | 621.50 | 603.00 | 640.00 | 2 |
| April 2026 | 785.00 | 785.00 | 785.00 | 1 |
| March 2026 | 769.00 | 763.00 | 775.00 | 2 |
| February 2026 | 471.00 | 470.00 | 472.00 | 2 |
| January 2026 | 448.00 | 448.00 | 448.00 | 1 |
Recent Weekly Assessments
Last 18 published assessments. The chart above is interactive; this table is the HTML history.
| Date | Low | High | Mid | Δ week (published) |
|---|---|---|---|---|
| 2026-09-03 | 395.00 | 425.00 | 410.00 | — |
| 2026-08-20 | 380.00 | 410.00 | 395.00 | — |
| 2026-08-13 | 370.00 | 390.00 | 380.00 | — |
| 2026-08-06 | 410.00 | 440.00 | 425.00 | — |
| 2026-07-30 | 430.00 | 455.00 | 443.00 | — |
| 2026-07-23 | 430.00 | 460.00 | 445.00 | — |
| 2026-06-25 | 400.00 | 420.00 | 410.00 | — |
| 2026-06-18 | 380.00 | 410.00 | 395.00 | — |
| 2026-06-11 | 450.00 | 520.00 | 485.00 | — |
| 2026-06-04 | 520.00 | 540.00 | 530.00 | — |
| 2026-05-28 | 590.00 | 615.00 | 603.00 | — |
| 2026-05-07 | 610.00 | 670.00 | 640.00 | — |
| 2026-04-23 | 750.00 | 820.00 | 785.00 | — |
| 2026-03-26 | 750.00 | 800.00 | 775.00 | — |
| 2026-03-19 | 745.00 | 780.00 | 763.00 | — |
| 2026-02-19 | 465.00 | 475.00 | 470.00 | — |
| 2026-02-12 | 465.00 | 478.00 | 472.00 | — |
| 2026-01-29 | 440.00 | 455.00 | 448.00 | — |
What This FOB Middle East Price Represents
This page tracks the weekly granular urea forward on a FOB Middle East basis, quoted in USD/mt. Specification recorded: FOB Middle East · Direct Hedge · M1 history. Figures are CommodityScope Indicators synthesized from loaded market editions. They are not a live quote and not a republication of a price-reporting agency table.
How to use this series
- Compare the M1 swap with the physical urea price of the same origin.
What it is not suitable for
- Treating swap mids as executed trades.
Compare With
Each comparison states why the series are related and whether the latest values can be subtracted directly (same unit, currency and assessment date). Where they cannot, the values are shown side by side without a difference.
| Series | Why compare | Latest | Difference (this − other) |
|---|---|---|---|
| Granular Urea — Middle East (Daily) FOB Middle East · USD/mt · daily | Physical daily price of the underlying market.
| 430.00 3 Sep 2026 | -20.00 |
| Granular Urea Forward — Egypt FOB Egypt · USD/mt · weekly | Egypt swaps — different origin. | 510.00 3 Sep 2026 | -100.00 |
| Granular Urea Forward — Brazil CFR Brazil · USD/mt · weekly | CFR Brazil swaps — destination market.
| 473.00 3 Sep 2026 | -63.00 |
Related Granular Urea Forward Prices
Sources and Methodology
CommodityScope publishes this page as a derived indicator from loaded physical-market editions. It does not republish a price-reporting agency table and does not claim authorship of the underlying source assessments. Update cadence follows the weekly series. Internal series code CS-ARG-DER-ME.
CS Indicator policy and derived-data rules.
Sources for the explanations on this page
- Loaded weekly nitrogen editions — basis and unit as printed
- CommodityScope methodology — derived-indicator rules and computed statistics
- ICC Incoterms® 2020 rules (FOB, CFR, CIF, FCA definitions) — Meaning of the delivery terms used in the basis column.
Origin of the numbers: loaded market editions (see Basis and Unit above). Origin of the computed statistics: CommodityScope, from the loaded history, using the rules on the methodology page.