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Mosaic says global phosphate and potash stockpiles remain flat despite a sharp price rally, so elevated prices will last longer than expected. Brazil demand is forecast at 43 million tonnes this year, up from 40.5 million in 2020.
Soy and corn farmers in Brazil have already locked in about 85% of nutrient needs.
Flat inventories and strong Brazilian demand point to sustained high phosphate and potash prices, which raise input costs for grain and oilseed production and may erode farm profitability.
farmprogress.comBloombergJul 8, 2021Not enough comparable past events yet for a historical read.
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.
