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Feidoodoo's February 2 review reports Chinese MAP and DAP prices were broadly stable on February 1, with MAP 55% powder at 3,100 and DAP 64% granular at 3,851.67. Factory orders, shipments and downstream demand are weak ahead of the Spring Festival, and inventories are rising.
Weak domestic Chinese phosphate demand and rising inventories point to soft phosphate fertilizer prices in the near term, which lowers input costs for feed producers' crop suppliers but does little to move feed grain prices directly.
fdd-global.comFeidoodooFeb 2, 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.
