- Fertilizer shares could retreat as the run-up in urea prices shows signs of easing, with CF Industries (CF -3%), Agrium (AGU -0.7%) and Potash Corp. (POT -0.5%) vulnerable following recent big gains, according to Cowen analyst Charles Neivert, citing anecdotal evidence from conversations with ag contacts.
- Softer prices may come as U.S. farmers reconsider fall applications of nitrogen and Indian demand is suspect due to high prices; if that happens, international prices could retreat to $200-$215/metric ton by year-end.
- Source: Bloomberg First Word