Fertilizer Price Update for the Week Ending June 16
Last week was broadly negative for fertilizer companies—six out of eight companies below ended the week in negative territory. The VanEck Vectors Agribusiness ETF (MOO), which uses a passive investment strategy to replicate investment in an agribusiness index, rose by 43 basis points last week. However, the S&P 500 Index (SPY) fell by ~30 basis points last week.
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In the week ending June 16, Intrepid Potash (IPI) emerged as the top loser—its stock fell 5.6% to $2.19 followed by Mosaic (MOS), which fell 3.6% to $23.5 per share. PotashCorp (POT) stock fell by 59 basis points to $16.5, while CVR Partners (UAN) fell by 26 basis points. Israel Chemicals (ICL) fell by 23 basis points to $4.3, while Agrium (AGU) fell by 14 basis points to $91.5 per share.
YTD (year-to-date), CVR Partners continues to be the top loser with losses of 39%. Mosaic has losses of 23% YTD, while Terra Nitrogen has losses of 19.1% YTD. Israel Chemicals continues to lead among the above companies with a YTD gain of 7.3% followed by Intrepid Potash with a gain of 4.8% YTD.
In this weekly series, we’ll discuss price movements for NPK (nitrogen, phosphorous, and potassium) fertilizers—key to the fertilizer companies’ success.