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Sinoagri monitoring shows the average spread for imported potash (KCl) on November 15 was -3.33 yuan per tonne, calculated as M10 minus M20 (3171.67 minus 3175.00). The spread moved from narrowing back to widening.
A widening negative spread signals that imported potash prices are continuing to fall and the decline is accelerating, which points to softer fertilizer costs for feed grain producers.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.