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StoneX analyst Josh Linville expects a summer demand lull and says Chinese phosphate exports are set to return in early May, the world's largest phosphate exporter. He says global phosphate prices are starting to soften, though it is late in Australia's application season.
Returning Chinese export supply and a seasonal lull in demand point to lower DAP prices, with the benefit reaching Australian buyers mainly for later purchases.
stonex.comJosh Linville2024/04/01stonex.comJosh Linville2024/04/01stonex.comJosh Linville2024/04/01stonex.comJosh Linville2024/04/03過去の中立な貿易イベント480件の後、トウモロコシ は5営業日で中央値 +0.2% 動き（54% が上昇。中央50%は -1.1% から +1.6%）、20営業日では +0.7% 動きました。
過去の傾向を示すのに十分な類似イベントがまだありません。
過去の傾向を示すのに十分な類似イベントがまだありません。
過去の弱気な貿易イベント81件の後、尿素 は5営業日で中央値 -1.0% 動き（28% が上昇。中央50%は -7.2% から +0.4%）、20営業日では -5.5% 動きました。
イベント直前の終値からの各商品ベンチマークの動き。過去の傾向は同種の過去イベントをまとめたものであり、起きたことを示すもので、今後を示すものではありません。投資助言ではありません。
StoneX notes global phosphate prices softening, expects Chinese exports to return in early May, and anticipates a summer demand lull, all bearish for sentiment and prices.
StoneX notes global phosphate prices are softening and Chinese exports are due to return in early May, which weighs on sentiment and DAP prices.
Dated on the move day, it flags softening global phosphate prices, a summer demand lull and the return of Chinese phosphate exports in early May, a bearish supply and sentiment signal that could contribute to a DAP drop, though it can't explain a -9.8% one-day move alone.
StoneX notes global phosphate prices starting to soften and Chinese exports returning in May, implying more supply and a bearish outlook.
