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US phosphate buyers expect supply to ease next year because a weak fall application season left higher inventories across the Corn Belt. Unfavourable affordability is likely to curb spring demand.
Earlier in the year, supply disruptions from a Mosaic fire and hurricanes had pushed DAP prices sharply higher.
Carry-over inventories and weaker farmer demand point to softer US phosphate prices ahead, which lowers fertilizer cost pressure for grain and feed production.
argusmedia.comTaylor ZavalaMar 25, 2024Not 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.
