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Mosaic said it will idle its Louisiana phosphate operations from October 1, cutting about 500,000 tonnes of 2019 output. It also will temporarily curtail potash production at its Colonsay mine in Saskatchewan.
The company cited higher imports that have pushed phosphate prices down.
Removing a large volume of phosphate supply should help firm the phosphate market and reduce high inventories. Lower output tightens supply for DAP and phosphate rock, though increased Moroccan and Saudi capacity limits the upside.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 193 past bullish trade events, DAP moved a median +0.4% over 5 sessions (54% higher; middle half -0.3% to +1.8%), and +1.9% 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.
