In the week ended March 16, the VanEck Vectors Agribusiness ETF (MOO) fell ~2%. The broader market S&P 500 Index (SPY) also fell 2% during the same period. Out of the seven stocks discussed below, six ended in the negative territory.
Out of the seven stocks that declined last week, CF Industries (CF) emerged as the top loser with a fall of 8% to $37.7 per share followed by Mosaic (MOS). Intrepid Potash (IPI) fell by 4% to $3.7, while CVR Partners (UAN) was not far behind with a fall of 3% to $3.5 per share. Nutrien (NTR) fell by 2% to $48.7, and Terra Nitrogen (TNH) fell by 25 basis points to $83.8 per share.
Israel Chemicals (ICL) was the only one to gain last week. It was up by 1.6% to $4.4 per share. These stocks YTD (year-to-date) performances aren’t impressive either.
YTD, Intrepid Potash is the top loser among the above companies with a 20% loss since the beginning of this year. CF Industries (CF) also fell by as much ~11% YTD, while Nutrien lost 9% of its price YTD. Mosaic was down 2%, while the remaining three stocks gave positive returns.
Israel Chemicals was the top gainer YTD with a 12% return followed by Terra Nitrogen and CVR Partners, which each have returned 3% YTD. During this period, MOO was up by 1%, and the S&P 500 Index was up by 2%.
Fertilizer price movements are critical for the performances of the above companies. In the next part, we’ll discuss the fertilizer price movements of key NPK (nitrogen, phosphorous, and potassium) fertilizers.