Fertilizer Stocks See Sell-Off amid Negative Market Sentiment

Agribusiness sector

On October 10, the VanEck Vectors Agribusiness ETF (MOO), which represents the broader agribusiness sector, fell about 2.9% to end at $63.2 per unit, while the broader US market index, the S&P 500, declined by 3.2% during the day.

Fertilizer Stocks See Sell-Off amid Negative Market Sentiment

Fertilizer stocks

All six fertilizer stocks in the chart above declined yesterday. CF Industries (CF) fell the most with a decline of 8.2% to close the day at $50.3, followed by CVR Partners (UAN), which declined by about 6% to $3.8 per share. While these nitrogen fertilizer stocks were broadly lower, phosphate giant Mosaic (MOS) fell 2.4% during the day to close at $32.4.

Nutrien (NTR) also ended about 4.6% lower at $54.9 per share, while Israel Chemicals (ICL) declined by ~4% to $6.1 per share. Intrepid Potash (IPI) declined by 2.6% to $3.4 on October 10.

In comparison, the S&P 500 Index ended almost 3.2% lower on October 10. The pessimism in the market was sparked by a sell-off in tech stocks as investors shifted their funds into a more secure government bond market.

Check back with Market Realist for more updates on the fertilizer sector.