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Mosaic has permanently shut its Plant City fertilizer factory in Florida, which had stopped processing phosphate two years earlier. The company cited a global fertilizer glut that has weakened phosphate prices and pressured its earnings.
Mosaic will write off $390 million in closure costs, and cleanup will take years.
The closure reflects weak phosphate pricing from oversupply, so it signals that producers are cutting capacity rather than adding supply. Feed buyers face little direct change, but it may help stabilize phosphate prices over time.
wusf.orgBradley GeorgeJun 18, 2019Not 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.
