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StoneX's Josh Linville outlines a view that global phosphate prices are flat to bullish in the near term, driven by uncertainty over Chinese export restrictions. He also notes U.S. countervailing duties on China, Morocco and Russia limit North American supply.
Export restrictions from China and U.S. duties tighten phosphate availability, supporting prices that feed buyers will pay for DAP and MAP in the near term.
stonex.comJosh LinvilleFeb 2, 2024stonex.comJosh LinvilleFeb 2, 2024stonex.comJosh LinvilleFeb 1, 2024After 151 past bullish policy events, DAP moved a median +0.0% over 5 sessions (50% higher; middle half -0.6% to +0.9%), and +1.9% over 20.
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.
