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Brazil imported a record 4.1mn t of MOP in July-September as buyers secured supplies for soybeans before turning to the next corn crop. Granular MOP prices fell to $280-290/t cfr by late September from $305-320/t at the start of July.
Record import volumes show strong Brazilian potash demand, but falling cfr prices show seasonal softening and new Chinese and Indian contracts pressuring the market. Prices are likely to remain under pressure until the next buying season.
argusmedia.comNykole KingMar 25, 2024Not 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.
