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US diammonium phosphate (DAP) prices are at record levels, with Illinois delivered DAP around $780 per tonne this week. Hurricane-related outages in Q3, high natural gas costs for ammonia, and record phosphate rock prices are tightening supply.
Market players expect DAP to finish the year up about 60%.
Higher DAP and ammonia costs raise the input cost for US corn growers and could push some farmers toward less fertilizer-intensive crops. Firm phosphate prices are likely to persist into Q1 2022 until capacity recovers.
chemanalyst.comNicholas SeifieldDec 27, 2021Not 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.
