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Fertilizer producers' first-half 2020 results show higher sales volumes at Eurochem, Nutrien, CF Industries and Yara, though profits fell in some cases due to weaker product prices. CF Industries cited favourable weather and more planted US corn acres.
Lower gas prices and a stronger US dollar helped nitrogen producers offset weaker commodity prices.
Solid fertilizer demand in the first half and higher US corn acreage point to continued nitrogen input demand, though the results describe past performance rather than a new price driver.
profercy.comChris YearsleyAug 20, 2020After 26 past neutral report events, Urea moved a median -0.4% over 5 sessions (42% higher; middle half -4.1% to +1.5%), and +0.9% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
