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Several large Chinese fertilizer companies said they would temporarily suspend exports to secure domestic supply, according to China's state planner. The NDRC summoned the producers to discuss hoarding and speculation after prices hit record levels in the country.
A temporary halt in Chinese phosphate and urea exports removes a large share of seaborne supply, which supports DAP and urea prices and pressures importers such as India and Pakistan.
feedandgrain.comAug 2, 2021After 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.
After 129 past bullish policy events, Urea moved a median -0.1% over 5 sessions (47% higher; middle half -1.3% to +2.3%), and +1.4% 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.
