18 Jan

MAP Prices Had Mixed Movements Last Week


MAP prices

In this part, we’ll continue our discussion on weekly movements in phosphate prices. We’ll focus on MAP (monoammonium phosphate).

MAP Prices Had Mixed Movements Last Week

Weekly movements

The above chart shows MAP price trends in Brazil and NOLA (New Orleans). In the week ending January 12, the MAP prices at these two locations moved in opposite directions week-over-week. MAP prices in Brazil moved higher by as much as 1.5% week-over-week to $410 per metric ton from $404 per metric ton. However, MAP prices in NOLA fell by 52 basis points week-over-week to $386 per metric ton from $388 per metric ton.

Yearly movements

While the weekly price movements were mixed, MAP prices were comfortably higher compared to the levels observed in the same week in 2017. It’s positive for companies (MXI) like Nutrien (NTR), Mosiac (MOS), and Israel Chemicals (ICL). Last week, MAP prices in Brazil rose as much as 22% YoY (year-over-year) from $336 per metric ton. In the NOLA region, MAP prices rose as much as 21% YoY from $319 per metric ton.

The agricultural fertilizer industry appears to be coming out of its down cycle as the demand begins to pick up and absorb the excess capacity built up in the market. Next, we’ll see how potash moved in the week ending January 12.

Latest articles

Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.

The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.

Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.

Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.

14 Jun

IEA Again Slashes Its Oil Demand Growth Estimate

WRITTEN BY Rabindra Samanta

As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.

Amazon is discontinuing its Amazon Restaurants service, which has been delivering food for restaurants in parts of the United States. Amazon Restaurants launched in the United States in 2015 and entered the British market the following year. However, it met strong opposition in the British market.