North American potash stocks become less ample in June
North America's stocks of the crop nutrient potash shrank about 8 percent in June, but remained at unusually high levels, as miners slowed production and overcame dips in export and domestic sales.
Stockpiles of potassium chloride, more commonly known as potash, fell 230,514 tonnes in the month to 2.698 million tonnes, according to data posted on Monday on Potash Corporation of Saskatchewan's website.
Inventories of the crop nutrient at the mine level still stood 14 percent above the previous five-year average.
Potash supplies started piling up last year as key global consumers China and India delayed signing new supply contracts with Canpotex, the offshore marketing company owned by Potash Corp and fellow producers Agrium Inc and Mosaic Co .
Potash production dropped 28 percent from the previous month to 1.404 million tonnes - 11 percent below the output of a year earlier. Potash Corp began idling mines for summer maintenance at the end of June.
Potash exports by North American producers dipped 6 percent in June from the previous month to 1.001 million tonnes.
Domestic sales, mainly to the United States, plunged 62 percent from May to 400,000 tonnes, as most crop planting and the spring fertilizer season wrapped up. Those sales were 20 percent less than a year earlier.
- Livestock futures led most ag markets lower Wednesday morning
- WSSA updates herbicide handbook
- Uncovered, the mystery of exchanging genes with wild relatives
- What will happen to farm leases with $3.25/bu corn?
- Easy Leaf Area software calculates leaf area from digital images
- CLA identifies areas for EPA to enhance effectiveness of WPS
- Suspected Bt corn rootworm resistance in Pennsylvania
- No El Niño in 2014? Drought-weary California in trouble
- BioNitrogen to build second fertilizer plant in Texas
- Soybean aphid numbers on the rise
- Commentary: Setting the record straight on 'Waters of the U.S.'
- FCC aims to offer high-speed internet to rural America