North American potash supply remains high
Potash supplies in North America at the producer level continued to swell in October, according to PotashCorp. The increase in producer-level inventories indicates the lackluster demand in key global markets.
It was reported that stockpiles of potash, also known as potassium chloride, increased 7.2 percent to 2.5 million tonnes, according to data posted by PotashCorp.
This level of potash at the producer level is 43 percent above the previous five-year average as prices have dropped to $470 per tonne.
Supplies are swelling due to China and India delaying signing new supply contracts with Canpotex, the potash marketing company owned by PotashCorp, Agrium and Mosaic Company.
Plans to temporarily close mines are expected to happen. PotashCorp mines slated for temporary shutdowns included its Allan, Saskatchewan mine, Sussex, Lanigan and Rocanville.
- New calculator can help soybean farmers with seed decisions
- U.S., Brazil close to ending cotton trade rift
- U.S.-Japan trade talks hit new farm exports snag
- Ag markets posted a general comeback Wednesday
- Midwest grain growers ‘Invest an acre to feed the world’
- Ag markets turned mixed around midsession Wednesday
- Activists fighting Golden Rice even more in 2014
- U.S. GMO labeling foes triple spending in first half of this year
- Source shows half of GMO research is independent
- White House issues veto threat on bill to block WOTUS rule
- East-West Seed signs marketing collaboration with Monsanto
- How much corn can the ethanol industry use?