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Farmers face a choice between buying fertilizer now, waiting until spring, or cutting application, as margins are very tight. StoneX's Josh Linville says MAP has risen $50-70/t to a premium over DAP, due to Chinese export cuts, Brazilian production outages and European output down 25% on high gas prices.
Phosphate supply cuts from China and Brazil and high European gas costs support MAP and DAP prices, while possible Middle East escalation could lift nitrogen prices by $25-50/t.
agweb.comAug 14, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
