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The US Department of Commerce issued final results of the first annual administrative reviews of countervailing duties on phosphate fertilizers from Russia and Morocco. The rate for Russian producer PhosAgro rose from 9.19% to 28.50%, while the rate for Moroccan producer OCP fell from 19.97% to 2.12%.
Higher duties on Russian phosphate raise the cost of US imports and tighten supply, supporting DAP prices in the US market, while lower duties on Moroccan supply partly offset this.
markets.bostonherald.comAssociated PressMar 6, 2019markets.bostonherald.comAssociated PressMar 6, 2019markets.bostonherald.comAssociated PressMar 6, 2019After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% over 20.
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.
