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StoneX's Josh Linville says phosphate prices are flat to bullish in the near term, with China's export policy as the key focal point. Chinese November phosphate exports were larger than expected, while China has recently restricted urea exports by roughly 40% per month on average.
Uncertainty over whether China will extend export curbs to phosphate could tighten global supply and keep phosphate prices supported for buyers.
stonex.comJosh LinvilleDec 29, 2023After 151 past bullish policy events, DAP moved a median +0.0% over 5 sessions (50% higher; middle half -0.6% to +0.9%), and +1.9% over 20.
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.
