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Mosaic said it will idle its Louisiana operations from October 1 to reduce production by about 500,000 tonnes this year. It also noted that its Colonsay potash mine was paused earlier as Esterhazy K3 ramped up.
The company expects tighter supply to rebalance the market.
Reduced phosphate output should draw down excess US inventories and support DAP and phosphate rock prices into fall demand. The Colonsay pause also reflects a potash supply cut.
investingnews.comOlivia Da SilvaSep 10, 2019After 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.
Not enough comparable past events yet for a historical read.
Not 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.
