- Fertilizer names are mixed a day after enjoying an across the board rally, which may have been sparked by comments out of the TFI World Fertilizer Conference, which is being held in Washington, D.C.
- A key comment, according to Briefing.com, was that spot urea prices in New Orleans have climbed ~15% since Sept. 1 to $230/short ton; urea sales comprised 32.5 of 2016 total sales at CF Industries, which topped all gainers on the S&P 500 yesterday.
- Also, Potash Corp. released a presentation at the conference which forecast strong potash demand through the remainder of 2017 and estimated global potash shipments of 62M-65M metric tons, potentially setting an all-time high.
- POT said it expects global capacity additions will begin to slow beyond 2017 while demand grows at steady rates, resulting in improving fundamentals in the nitrogen market.
- In today's trade: CF +0.7%, POT -0.2%, MOS -2.6%, AGU -0.2%, UAN +3.6%, IPI -0.2%, OTCPK:YARIY +1.4%, TNH +0.1%.
- Now read: Agrium (AGU) Presents At Credit Suisse (SIX:CSGN) 30th Annual Basic Materials Conference - Slideshow
Original article