A Review of Fertilizer Prices Last Week

Last week (ended July 6) was broadly positive for the agribusiness sector, with the benchmark representative VanEck Vectors Agribusiness ETF (MOO) gaining almost 42 basis points week-over-week. Meanwhile, the S&P 500 gained 1.5%.

Last week, four of the six fertilizer stocks in the above chart ended in positive territory. CVR Partners (UAN) emerged as the biggest gainer, rising 2.7% to $3.39, followed by Intrepid Potash (IPI), which rose ~2.2% to $4.20. Fertilizer producers Israel Chemicals (ICL) and The Mosaic Company (MOS) also rose, by 43 basis points to $4.60 and 25 basis points to $28.10, respectively.

In contrast, CF Industries (CF) stock fell ~3.4% to $42.90, and Nutrien (NTR) fell ~68 basis points to $54. Let’s look at how these stocks have performed so far this year.

Year-to-date, the VanEck Vectors Agribusiness ETF has returned ~30 basis points, and the S&P 500 has risen 2.5%. Israel Chemicals continues to lead fertilizer stocks with a 13.5% gain, followed by Mosaic, which has risen ~5.5%. The other four stocks in the above chart—Intrepid Potash, CVR Partners, Nutrien, and CF Industries—have fallen 10.3%, 4.2%, 1.4%, and 60 basis points, respectively. In this series, we’ll look at key NPK (nitrogen, phosphorous, and potassium) fertilizer prices last week.