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Rabobank's Global Fertiliser Outlook says global phosphate prices are at their lowest in more than 10 years after weaker demand and extra supply. It expects prices to stay below the 2019 average in the first half of 2020, with urea prices rising on stronger US and Indian import demand.
Cheap phosphate lowers input costs for feed phosphate producers, while firmer urea reflects tighter nitrogen supply. A recovery in fertilizer demand depends on crop prices rising in the second half of 2020.
graincentral.comGrain CentralJan 15, 2020After 35 past bearish report events, DAP moved a median 0.0% over 5 sessions (37% higher; middle half -0.7% to +1.5%), and +0.6% over 20.
After 76 past bullish report events, Urea moved a median 0.0% over 5 sessions (49% higher; middle half -2.2% to +2.9%), and -0.3% 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.
