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The US Commerce Department will cut countervailing duties on Moroccan phosphate producer OCP from 19.97% to 2.12%, following farmer pushback and a court order to recalculate. Mosaic, the largest US phosphate producer, said it is considering next steps.
Lower tariffs should restore Moroccan phosphate supply to the US market, easing fertilizer costs and pressure on DAP prices.
agriculturedive.comSarah ZimmermanNov 8, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 40 past bearish trade events, DAP moved a median -0.1% over 5 sessions (38% higher; middle half -3.7% to +0.5%), and -2.4% 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.
