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PhosAgro reported first-half 2017 results, with fertiliser production up 8.8% year on year to nearly 4 million tonnes and sales up 11.8% to 4.1 million tonnes. Phosphate-based output rose more than 20% year on year in Q2, and MAP sales grew 25%, driven by Russian and Brazilian demand.
Rising output from a major Russian producer adds phosphate supply, which is mildly bearish for DAP and MAP prices, although strong Brazilian demand offers some support.
worldfertilizer.comAnna NicklinAug 9, 2017After 35 past bearish report events, DAP moved a median 0.0% over 5 sessions (37% higher; middle half -0.7% to +1.5%), and +0.6% 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.
