Last week, potash prices were broadly flat to positive, similar to phosphate fertilizer prices. Recently, one of the biggest potash producers, Nutrien (NTR)(POT), announced its earnings results. To learn more, read Nutrien Stock: 1Q18 Earnings Results Snapshot.
Last week, Brazilan granular potash prices rose ~1% WoW (week-over-week) to $303 per metric ton from $300 per metric ton, and 17% YoY (year-over-year). However, in NOLA (New Orleans) and the US Corn Belt, granular urea prices were almost flat WoW at $217 per metric ton and $245 per metric ton, respectively. Prices rose 10% and 6% YoY.
Prices for standard grades of potash rose 72 basis points WoW to $279 per metric ton from $277 per metric ton and 13% YoY from $246 per metric ton. In its recent earnings call, Nutrien stated that stronger potash prices (NANR) were supported by global consumption growth. These trends also help The Mosaic Company (MOS) and Israel Chemicals (ICL).