The week ending September 21 was broadly positive for the fertilizer sector. The VanEck Vectors Agribusiness ETF (MOO) rose 2.3% from the week ending September 14. The overall market S&P 500 Index rose by 40 basis points. Let’s look at how some of the major fertilizer stocks performed last week.
In the above chart, Intrepid Potash (IPI) emerged as the top gainer and rose as much as 10.5% week-over-week to $3.7. Israel Chemicals (ICL) had a weekly gain of 8.2% week-over-week to $6.2. Mosaic (MOS) followed with a 5% weekly gain and closed the week at $32.3. CF Industries (CF) and CVR Partners (UAN) both gained 2.4% during the week and closed at $52.8 and $3.8, respectively. Nutrien (NTR) was at the bottom but still managed to gain ~2.3% week-over-week to $57.3 per share. Let’s look at how these stocks have performed YTD (year-to-date) and how they compare to the benchmark indexes.
As you can see in the above chart, Israel Chemicals has dominated other fertilizer stocks in 2018 with a 52% gain. CF Industries (CF) has gained 22.4%, while Mosaic has gained 21.3%. CVR Partners has also been in positive territory with a 7.1% YTD gains, while Nutrien has increased 4.6%. While Intrepid Potash gained last week, it’s still in the negative territory with a loss of 21.4% YTD. MOO has gained 5.8%, while the S&P 500 has gained 8.6% YTD.
Next, we’ll discuss fertilizer price movements.