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Mosaic's CEO said strong global demand and limited phosphate and potash supplies will strengthen fertilizer prices in 2024. He forecast global phosphate shipments up to 76 million tons and potash shipments up to 72 million tons.
Brazil's fertilizer inventories are low and must be replenished ahead of the safrinha corn crop.
Expected tight phosphate and potash supply and restocking in Brazil point to higher fertilizer costs into 2024, which can lift grain production costs and support corn prices.
agri-pulse.comBill TomsonNov 8, 2023After 66 past bullish report events, DAP moved a median 0.0% over 5 sessions (41% higher; middle half -0.6% to +0.7%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
After 1,040 past bullish report events, CORN moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
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.
