BUZZ-Fertilizers CF, Nutrien, Mosaic rise as urea prices climb on Middle East conflict
Mosaic Company MOS | 26.17 | -1.39% |
Intrepid Potash, Inc. IPI | 43.80 | +4.09% |
CF Industries Holdings, Inc. CF | 129.97 | +1.55% |
Nutrien Ltd. NTR | 75.47 | +1.22% |
** U.S. fertilizer stocks jump in early morning trading as urea price climbs amid widening Middle East conflict
** CF Industries CF.N climbs 6.5%, Mosaic MOS.N rises 3.1% and U.S.-listed shares of Nutrien NTR.N up 2.4%
** The companies produce nitrogen-based fertilizers like urea, whose prices have soared as the U.S.-Israeli air war against Iran disrupts shipping through the vital Strait of Hormuz
** Higher urea prices typically support margins for producers
** Commodity price reporting agency Argus Media says urea prices surged as the Middle East conflict threatens to choke supply from a region that accounts for around 35% of global seaborne urea trade
** In the past 12 months, CF is up nearly 25%, NTR gains 43% and MOS rises 11%
