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Morningstar analyst Seth Goldstein says 2019 was a difficult year for agriculture, with flooded US fields cutting planted acres to a decade low. Lower acreage and weak palm oil prices in Southeast Asia reduced potash demand.
He expects a US acreage rebound and palm oil recovery in 2020, and possible potash price gains from recent production cuts.
Expected acreage recovery and tighter supply from cuts would support potash demand and prices in 2020. The outlook is a forecast, not a new supply or demand event.
morningstar.comSeth Goldstein, CFADec 13, 2019Not 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.
