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8/12/2020

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Call Summary:

• India has been driving the urea market, which is driving the entire nitrogen complex. We may see prices reset, but will be tight over the next few months. Consider locking in some tons to cover your spring needs.
• Phosphates are continuing to firm. No matter what happens with the International Trade Commission, it won’t affect supply and demand, but will rebalance trade patterns. If you haven’t locked up phosphates, you should because supply will be tight.
• Potash is firm but solid. Prices could go higher but values are appealing today. You should cover fall needs.