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Fertilizer Stocks and Commodity Prices in the Week Ended March 10

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Sector performance

The week ended March 10, 2017, was broadly negative for agricultural fertilizer stocks. During the week, the VanEck Vectors Agribusiness ETF (MOO) fell 42 basis points, and the S&P 500 (SPY) fell 44 basis points. Let’s take a look at the weekly and YTD (year-to-date) performances of eight major publicly listed agricultural fertilizer companies.

Please read Post-4Q16 Dirt: Your Operating Results for 8 Fertilizer Producers for a side-by-side comparison of fertilizer companies’ operating performances in 4Q16.

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Fertilizer stock performance

The week ended March 10, 2017, was mostly negative for fertilizer stocks. Out of the eight stocks in the chart above, three ended the week in positive territory. Israel Chemicals (ICL) emerged as the top performer, falling ~3.7% to $4.43 per share. Agrium (AGU) was next, with its stock rising ~2.3% to $97.49 per share. PotashCorp (POT) rose ~1.9% to $17.43 per share.

On the other hand, Terra Nitrogen (TNH) fell ~2.7% to $92.59 per share. Mosaic (MOS) fell 3.4% to $29.19 per share, and CF Industrial Holdings (CF) fell ~4.9% to $29.42 per share.

CVR Partners (UAN) and Intrepid Potash (IPI) ended last week at the bottom. CVR Partners fell 12.5% to $4.55 per share, and Intrepid Potash fell ~13.2% to $1.65 per share. Let’s see how these stocks performed year-to-date.

Year-to-date performance

Year-to-date, Israel Chemicals is the top performer and at 8.3%, it’s the only stock with a positive return among the fertilizer companies in the chart above. CVR Partners was the top loser, with its stock falling 28% YTD. Intrepid Potash followed with a fall of 20.7% YTD.

Terra Nitrogen stock fell 11.8% YTD and was followed by CF Industrial Holdings, which fell 7.7% over the same period. Year-to-date, PotashCorp fell 3.4%, Agrium fell 2.7%, and Mosaic fell 1.2%.

Year-to-date, the VanEck Vectors Agribusiness ETF (MOO) is up 4.4%, and the S&P 500 Index is up 5.1%.

Series overview

Fertilizer prices are key to these companies’ performance metrics. In this series, we’ll provide an update on fertilizer price movements for the week ended March 10, 2017.

We’ll start by looking at last week’s price movements for nitrogen, phosphate, and potash fertilizers. Toward the end of the series, we’ll discuss fertilizer affordability.

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