NPK prices across Europe are stable-to-soft as the market moved out of season after a spring that has disappointed suppliers. Weak crop prices have played a key role in holding down demand, and they continue to discourage investment in fertilizers. French milling wheat prices are down by over ?30/t compared with this time last year while UK wheat prices are down by around ?27/t. Russian customs data also refect this trend. First-quarter Russian exports to Europe as a whole were just over 480,000t, compared with around 590,000t in the corresponding quarter of last year.
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