We haven't blogged much on any of the ag inputs because agricultural commodity prices have been so low there is no money moving up (or down) the pyramid.
That may be changing over the next couple years.
From Reuters:
Canadian fertilizer maker Nutrien Ltd on Tuesday reported a smaller-than-expected quarterly profit and forecast full-year earnings below analysts’ estimates on weak global demand for fertilizers and lower potash prices.....MORE
Nutrien said it expects adjusted earnings of $1.90 per share to $2.60 per share, below analysts’ expectations of $2.73 per share.
Demand for fertilizers has been hit by a combination of factors including the impact of a drawn-out U.S.-China trade war and an extremely cold winter in North America that has delayed planting.
That had forced Nutrien to substantially cut back on potash production and extend the shutdown of its Vanscoy mine in Canada through the end of January....
They could also add African Swine Fever (dead pigs don't eat) and last years cool and wet Spring to the factors influencing the need for fert.
Press release:
Nutrien Delivers Stable Earnings in a Challenging Year
Earnings call webcast/replay
