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皇冠体育api(www.hg9988.vip):Fertiliser maker CF Industries still bullish as price rally takes a breather

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A worker unloading fertiliser to be used on a wheat field near the village of Yakovlivka in eastern Ukraine. — Reuters

NEW YORK: The world’s top fertiliser makers are bullish on key crop nutrients even as prices retreat from multi-year highs.

CF Industries Holdings Inc, the world’s largest nitrogen fertiliser company, said supplies were still tight and didn’t see much slack in the market despite localised gluts.

Conditions that have supported nitrogen prices for the last year – chief among them lower operating rates due to high energy prices in Europe and Asia – showed no signs of abating, chief executive officer Tony Will said in an earnings release.

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“We expect the global nitrogen supply-demand balance to remain tight with attractive margin opportunities for low-cost producers further into the future,” Will said.

Fertiliser prices are falling as farmers balk at the high costs and postpone purchases, creating gluts that are upending the market for crop inputs.

It’s a reversal from earlier this year when prices surged after Russia’s invasion of Ukraine threw the world’s crop-nutrient sector into disarray.

Weekly wholesale US cornbelt potash prices and Brazilian spot prices fell to the lowest in more than a year for the week ending October 28, according to Bloomberg’s Green Markets.

Nutrien Ltd posted disappointing third-quarter results and lowered its global potash shipment forecast. — Bloomberg


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