The agribusiness sector continued its upward momentum in the week ending January 12, 2018. For example, the VanEck Vectors Agribusiness ETF (MOO) rose 1.2% to $64.2 last week. The agribusiness sector’s momentum echoed the broader market sentiment like the S&P 500 Index (SPY), which rose 1.5% during the same period.
As you can see in the above chart, four fertilizer stocks in the agribusiness sector ended in the positive territory through last week. Israel Chemicals (ICL) was the top gainer. It rose 7.6% and closed at $4.4. The Mosaic Company (MOS) followed with a weekly gain of 3.5% and closed at $27.2. CF Industries (CF) rose 1.9% and closed at $43.5 last week. Terra Nitrogen (TNH) also ended last week in the positive territory with a weekly gain of 1.2% and closed at $86.8 as of January 12, 2018.
However, not all of the fertilizer stocks closed on a positive note. Among the fertilizer stocks that ended lower last week, CVR Partners (UAN) was the top loser with its stock falling 1.7% to $4. Intrepid Potash (IPI) followed with a loss of 1% and closed at $4.3. Nutrien (NTR) closed 0.76% lower at $53.4.
Just two weeks into this year, CVR Partners has gained 12.7%. Israel Chemicals has gained 7.9% YTD (year-to-date), while Terra Nitrogen has a YTD gain of 6.6%. The Mosaic Company has gained 2.1% and CF Industries has gained 0.9% YTD. In contrast to these stocks, Intrepid Potash has fallen 7.5% YTD, while Nutrien has fallen 2.4%.
Fertilizer prices are one of the key drivers for fertilizer stocks’ performance. In this series, we’ll discuss the movements in fertilizer prices.
Natural gas is one of the critical input materials needed for nitrogen and some phosphate-based fertilizers.
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