Lots of new capacity coming online also. I'm a longer term CF holder so am following from that view, but things do move fast. CF presentations fairly convincingly argued that even with the expansions marginal production cost (imports) would have sufficiently high price, but the winds are blowing against. Commodity prices tanking means less reason for farmers to invest in fertilizer.
Thanks, someone else pointed out that the price of fertilizer seems to have had a bad drop in the past few months. I think lower oil prices also lower the cost of fertilizer manufacturing, not I'm not really sure on that.
So....if the business is really doing poorly, it should show up in UAN's Q4 numbers, right? Does fertilizer generally sell into a spot market price? |
