20 Mar

MAP Prices Fell in the Week Ended March 16

WRITTEN BY Adam Jones

MAP prices

In the earlier part of this series, we saw that DAP (diammonium phosphate) prices were mixed overall last week. MAP (monoammonium phosphate) prices were broadly negative over the same period.

MAP Prices Fell in the Week Ended March 16

Weekly movements

Last week, MAP prices in both Brazil and NOLA (New Orleans) fell week-over-week. Prices in Brazil fell by as much as 93 basis points week-over-week to $428 per metric ton from $432 per metric ton a week ago. Similarly, prices in NOLA fell by as much as 51 basis points week-over-week to $387 per metric ton from $389 per metric ton a week ago.

After a steady increase in MAP prices in Brazil, last week was the second week in a row to see a weekly decline. NOLA also reflected this trend with last week being the second week in a row of price declines.

Investors (MOO) in phosphate companies such as Mosaic (MOS), Nutrien (NTR) (AGU), and Israel Chemicals (ICL) should closely watch the momentum in phosphate prices.

Yearly movements

While the weekly prices disappointed, year-over-year prices remained higher. For example, in NOLA, MAP prices were up by 11%, and in Brazil, the prices were up by 8%.

Read the next part to know how potash prices moved last week.

Latest articles

With over 38,000 restaurants, McDonald's doesn’t make any of its products. Instead, it contracts with suppliers to meet its massive requirements.

In Q3, T-Mobile’s (TMUS) strong momentum continued. The telecom giant gained postpaid phone customers and reported strong earnings.

Energy Transfer stock (ET) has been under pressure due to a weak earnings season from MLPs, but its fundamentals are stronger than ever.

Former HBO CEO Richard Plepler is in "advanced talks" over a deal with Apple TV+ (AAPL), the Wall Street Journal reported on Tuesday.

At 11:46 AM ET, US crude oil prices were up 0.7% from the last trading session. The EIA plans to release its inventory report tomorrow.

Footwear and apparel giant Nike (NKE) has decided to stop selling its products on Amazon (AMZN), ending a program that's run since 2017.