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Mosaic's Esterhazy K1 and K2 potash mines in Saskatchewan were abandoned nine months early after brine inflow overwhelmed pumping capacity. About 1 million tons of production was lost.
Potash prices jumped immediately because warehouses had already been emptied by a spring run.
Losing roughly 1 million tons of potash supply in an already tight market supports higher potash prices into fall application. Prices are unlikely to ease until additional producers ramp up output.
stonex.comJosh LinvilleJul 2, 2021stonex.comJosh LinvilleJul 2, 2021stonex.comJosh LinvilleJul 2, 2021stonex.comJosh LinvilleJul 2, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 30 past bullish weather events, UREA moved a median +1.4% over 5 sessions (67% higher; middle half -0.3% to +1.6%), and +9.1% over 20.
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.
