MARKET TALK: Nitrogen Fertilizer Supply Could Be Catching Demand
31 Gennaio 2013 - 10:05PM
Dow Jones News
15:35 EST - While the nitrogen fertilizer industry has been
rolling in profits, thanks to increasing corn acreage and low
natural gas costs, a resulting boom in nitrogen production capacity
could be starting to alter the market's dynamic. A longstanding
correlation between urea nitrogen fertilizer and corn prices broke
down last summer as corn prices surged, says Keith Swanson, a
fertilizer risk manager for CHS Hedging. "We might be at the point
globally where some of this supply is catching up to demand," he
tells farmers at a Chicago conference. Swanson adds there are eight
large-scale nitrogen plant projects in the works in the US, but
says "no one really expects all of these to be built."
(ian.berry@dowjones.com; @enberry)
Call us at (212) 416-2181 or john.shipman@dowjones.com
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