Loading…
The Mosaic Company said it will cut its spring phosphate production by 300,000 tons at its Florida and Louisiana facilities. The cut is attributed to continued U.S. weather concerns and higher-than-normal carryover inventories from the fall.
Mosaic said current margins do not reflect balanced market conditions.
A supply reduction of this size from a major phosphate producer tightens U.S. DAP availability for spring and supports DAP prices. Higher phosphate costs raise feed phosphate ingredient costs for livestock producers.
investors.mosaicco.comMar 7, 2019After 13 past weather events, DAP moved a median 0.0% over 5 sessions (46% higher; middle half -0.2% to +0.9%), and +0.7% 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.
