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StoneX's Josh Linville says global phosphate supplies are down while demand is rising, with China's export ban expected through June 2022. He says North American values have slipped on emotion tied to a push to remove duties on Morocco and Russia.
Tight global supply supports values, while the risk of removing US duties could weigh on domestic prices. Fertilizer costs for feed grain production remain elevated.
stonex.comJosh LinvilleJan 1, 2022After 193 past bullish trade events, DAP moved a median +0.4% over 5 sessions (54% higher; middle half -0.3% to +1.8%), 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.
