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Florida fertilizer plants and grain mills closed ahead of Hurricane Milton's landfall. Analysts said the loss of processing and phosphate shipments following Helene and Milton will further tighten the phosphate market, with a large share of US ammonium phosphate and phosphate rock capacity affected.
Phosphate supply shortfalls in the US push up DAP and MAP prices for feed and crop buyers, and closed grain mills reduce local demand for corn and soybeans temporarily.
reuters.comOct 9, 2024After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% over 20.
After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
Not enough comparable past events yet for a historical read.
After 13 past weather events, DAP moved a median 0.0% over 5 sessions (46% higher; middle half -0.2% to +0.9%), and +0.7% 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.
