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Fertilizer makers Nutrien, Mosaic, CF Industries continue to shatter records
Mar. 21, 2022 3:39 PM ET
Nutrien Ltd. (NTR),
MOS,
CFUAN,
IPI
North America's big three fertilizer producers Nutrien (NYSE:
NTR+5.8%), Mosaic (NYSE:
MOS+8.7%) and CF Industries (NYSE:
CF+6.8%) all rip to record highs, with CVR Partners (
UAN+8.5%) and Intrepid Potash (
IPI+21.0%) also surging, as Russia's invasion of Ukraine nears the one-month mark.
"Russia is a major, major exporter across all of the major fertilizers...
losing Russian exports is a very big deal," says Josh Linville of StoneX Group, noting that the country accounts for 14% of urea, as much as 31% of UAN, 10% of phosphate, and nearly 20% of the global operating potash capacity.
Chinese state planner National Development and Reform Commission said it will
"actively" import potash fertilizer to supply the domestic market to aid spring planting.
The NDRC, along with other government agencies, said it will adopt measures to increase production and expand imports to ensure sufficient supplies and price stability.
All forms of fertilizer are
in short supply,
and reduced volumes from Canada due to the labor strike at Canadian Pacific Railway could
further support pricing and revenues for the North American producers.
**** Yikes glad I spotted that. Canada maybe NOT good.