Last week, which ended on April 20, the agribusiness sector, reflected by the VanEck Agribusiness ETF (MOO), ended slightly lower week-over-week by 6 basis points. But it continues to stay in positive territory so far this year with a gain of 24 basis points YTD (year-to-date).
Last week, most fertilizer stocks in the above chart ended in positive territory. Intrepid Potash (IPI) emerged as the biggest gainer, rising 4.3% to $4.20, followed by Mosaic (MOS), which gained 1.9% to close at $25.90. Israel Chemicals (ICL) rose 1% to close at $4.50, and CF Industries (CF) gained 70 basis points, ending last week at $39.
In contrast, CVR Partners (UAN) fell the most, declining 2.6% week-over-week to $3. It was followed by Nutrien (NTR), which fell 15 basis points and closed at $46. Let’s see how these companies have performed YTD.
Year-to-date, most of the fertilizer companies in the above chart have fallen, with Nutrien declining 14.6% YTD. It was followed by CVR Partners, which fell 14.1% over the same period. Intrepid Potash fell 11.1%, and CF Industries fell 10.2%. Mosaic was among the least affected with a YTD loss of 3.6%.
In contrast, Israel Chemicals was the only one with a positive return of 9.3% YTD.
In this series, we’ll be looking at fertilizer price movements last week. Those prices are the key earnings drivers for fertilizer stocks.