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Mosaic will temporarily curtail production at its Esterhazy potash mine in Saskatchewan. Combined with an earlier curtailment, total cuts reach up to 600,000 metric tons.
The company cited rising inventories, a short-term slowdown in global potash markets and a risk of delayed Chinese contract settlement.
Cutting up to 600,000 mt of supply reduces near-term potash availability and supports prices if the cuts are realized. Mosaic still expects a strong Brazil and North America application season.
e-mj.comE &, MJ EditorsDec 3, 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.
