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Mosaic said it will cut phosphate production at its central Florida facilities by 150,000 tonnes per month until market conditions improve. It has already reduced output by 500,000 tonnes in the first half of the year and will run its Canadian potash business at lower rates.
The company cited a third consecutive weak North American application season and high inventories.
Cutting output from a major phosphate producer tightens supply and supports phosphate and potash prices. The move signals producers defending prices in response to weak weather-hit demand.
agcanada.comAGCanadaDec 20, 2019
country-guide.caReutersDec 19, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 13 past weather events, DAP moved a median 0.0% over 5 sessions (46% higher; middle half -0.2% to +0.9%), and +0.7% 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.
