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StoneX's Josh Linville outlines his August 2024 phosphate outlook, centered on India's subsidy program restricting phosphate imports and leaving stockpiles very low. He expects India to fix the subsidy scheme and then buy heavily to rebuild stocks, while noting that only five major exporters supply the market.
A likely Indian restocking binge from a small group of exporters would tighten phosphate supply and support DAP and phosphate prices, which feed into higher fertilizer costs for farmers and feed producers' input outlook.
stonex.comJosh LinvilleJul 26, 2024stonex.comJosh LinvilleJul 26, 2024stonex.comJosh LinvilleJul 26, 2024stonex.comJosh LinvilleJul 26, 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.
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.
