I've been asked by several readers to update my forecast for nitrogen fertilizer MLP, CVR Partners, L.P. (UAN). So here it is.
We are mildly bullish short-term (next few months). Longer-term, that being two to three years, we think CVR Partners will face increased competition from large domestic nitrogen fertilizer expansions planned by CF Industries Holdings (CF), and upstarts such as Iowa Fertilizer Company, the latter owned by Orascom N.V. (OTCQX:OCINY) and even Northern Plains Nitrogen, a farmer co-op led iniitiatve in North Dakota.
Back in August I wrote CVR Partners was seeing a soft second half and had experienced problems which reduced ammonia production. I predicted the units would decline, estimating fair...
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