Last week, which ended July 13, was broadly negative for the agribusiness sector, with the benchmark VanEck Vectors Agribusiness ETF (MOO) ending 19 basis points lower between the closing on July 6 and July 13. On the other hand, the broader market index was positive, rising 1.5% over the same period. The fertilizer sector, however, saw mixed results, as we will see below.
Last week, CVR Partners (UAN) emerged as the biggest gainer, rising 9.7% week-over-week to $3.70 per share. It expects to announce its second-quarter earnings on July 25. Israel Chemicals (ICL) was next, with its stock rising 1.51% to $4.70 per share. Mosaic (MOS) saw its stock rise 11 basis points week-over-week to $28.20 per share.
The remaining three stocks in the chart below ended in negative territory. They include Intrepid Potash (IPI), which fell 4.5% week-over-week to $4, followed by Nutrien (NTR), which declined 1.7% to $53.10, and CF Industries (CF), which ended 1.3% lower at $42.30.
YTD (year-to-date), the results were the same last week for the six fertilizer companies. For example, Mosaic, CVR Partners, and Israel Chemicals were in positive territory with returns of 5.6%, 5.1%, and 15.2%, respectively, YTD. The other three companies were in negative territory YTD, with Intrepid Potash down 14.1%, Nutrien down 3.1%, and CF Industries down 1.9%.
In the remaining parts of this series, we’ll see how fertilizer prices moved last week.