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EARNINGS
Noble Energy's 3Q17: The Impact of Lower Production

Noble Energy’s revenue estimates for 3Q17 stand at $935.2 million, compared with its revenues of $910 million in 3Q17 and $1.06 billion in 2Q17.

Major-producers-June-13-5-1
Are US and OPEC Supplies Helping Crude Oil Bulls?

Crude oil prices are at a three-week high due to geopolitical tensions in Iraq and major producers’ ongoing production cuts.

india-gold-imports-1
How Indian Demand Could Influence Gold Prices

India and China remain the top two consumers of gold (IAU) and silver (SLV).

Sector
How Did Wall Street Perform on October 18?

The S&P 500 started this week on a stronger note following the fifth consecutive weekly gain. It continued to move higher on Wednesday.

RECENT Basic Materials RESEARCH

New Capacity
Why Agrium Inc. suspending capacity addition will affect other producers (Part 2)

Continued from Part 1 Planned capacity increase As a result of increased profitability due to a natural gas boom in the United States since 2008, several natural gas producers are…

Henry Hub Natural Gas Spot Price 2013-07-16
Why natural gas price affects nitrogenous fertilizer stocks (Part 1)

Natural gas and nitrogenous fertilizers Natural gas is a major raw material input in the production of nitrogenous fertilizers, such as urea and ammonia, ranging from 40% to 70% of…

China Urea Operating Rate 2013-07-16
Why Chinese producers are driving nitrogenous fertilizer prices down (Part 2)

Continued from Part 1 Operating rate rises as China becomes more competitive Historically, the expense of using coal to produce nitrogen-based fertilizers has kept Chinese firms away from increasing production,…

China Urea Export 2013-07-16
Why Chinese producers are driving nitrogenous fertilizer prices down (Part 3)

Continued from Part 2 Increased supply will drive exports to a record Given the increased supply, Chinese firms have already begun exporting some of their urea, a type of nitrogenous…

Marginal Cost Curve (2013)
Why Chinese producers are driving nitrogenous fertilizer prices down (Part 1)

How China affects the global fertilizer market China, the world’s largest producer of nitrogen (a chemical used to make nitrogenous fertilizers for growing plants) occupies roughly 40% of global production…

India's Inflation Rate 2013-07-10
India's inflation stays stubbornly high, negative for potash and respective ETFs

What is inflation? The inflation rate is the rate at which a price is rising, usually on a year-over-year basis. High inflation rates reflect shortages of supply relative to quantity…

India's Inflation Rate 2013-05-07
India's high inflation supports food prices and potash but negative outlook remains

What is inflation? The inflation rate is the rate at which a price is rising, usually on a year-over-year basis. High inflation rates reflect shortages of supply relative to quantity…

Indian Rupee 2013-05-05
Weaker rupee lowered farmers' demand for potash in 2012, how about 2013?

Just like the U.S. dollar is a key influence to crop prices, the strength or weakness of the Indian currency, the rupee, has a significant impact on potash demand. As…

Potash Imports by Country (2010) 2013-05-05
India's subsidy cut for potash dampens optimism for demand recovery in 2013

World demand for potash — a type of fertilizer that is used to enhance water retention of plants, increase crop yields and plants’ disease resistance — is highly dependent on…

Fertilizer to Corn Price Ratio
Cheap fertilizer prices to increase demand for fertilizer producers

Because fertilizers are used to help crops grow, the relative prices of fertilizers to crop prices affect farmers’ returns. When prices of fertilizers are low compared to crop prices, farmers are incentivised to purchase more…

Ammonia Price 2013-04-26
West Texas explosion will not benefit fertilizer producers

The scarcer the resource, the higher the price — such is the law of economics. On April 17th, a fertilizer plant in West Texas exploded, killing 17, injuring more than…

Natural Gas Price
Natural gas price hits above 4 dollars, fertilizers drop

Natural gas is a major raw material input in the production of nitrogenous fertilizers, such as urea and ammonia, ranging from 40% to 70% of cost of goods sold. A…

Henry Hub Natural Gas Spot Price 2013-03-21
Short term moves in natural gas has limited impact on fertilizer costs

Natural gas is a major input in the production of nitrogenous fertilizers, such as urea and ammonia. Therefore, when the natural gas price in the United States rises, it is…

Natural Gas Price
Low US natural gas price should continue to benefit domestic fertilizer producers

Natural gas is a major input in the production of nitrogenous fertilizers, such as urea and ammonia. According to Terra Nitrogen Company L.P. (TNH), a pure play nitrogenous fertilizer producer,…

Fertilizer Demand Projection by Type 2013-03-18
Analysts' demand estimates favor potash over other fertilizers

When looking at an industry, one of the first things investors can look at is demand growth. Just like an eight percent increase in gross domestic product (a measure of…

US Phosphate Inventory
US phosphate inventory hitting previous highs

Inventory analysis can often lead to a better understanding of supply and demand dynamics. When inventory rises, it often points to excess supply. On the other hand, falling inventory levels…

Corn Price
Corn price hits record in 2012, favorable for fertilizers

Corn prices often drive fertilizer prices. Among the three major crops, corn, soybean and wheat, corn requires more nitrogen based fertilizers. Thus, when crop prices rise, fertilizer firms like CF…

US Dollar and Corn Price
US dollar moving corn and fertilizer prices

Commodities are often traded with the US dollar. For that reason, the directional movement of the US dollar often results in the opposite direction for agriculture crops like corn. When…

NA Potash Inventory
High potash inventory level signal potential Potash bottom

Inventory figures often provide insights into supply and demand dynamics. When inventory levels rise, it often points to a reduction in demand more so than an increase in supply. On…

USDA Farm Net Cash Income
Record farm net cash income positive for fertilizer firms

Farmers’ ability to generate cash is important to fertilizer producers. Although a lagging indicator of financial performance, farmers’ income for a specific calendar year is an indicator of how much…

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