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Economy
In reply to the discussion: Stock Market Watch, Tuesday July 30, 2013 [View all]xchrom
(108,903 posts)9. Fertilizer Companies Are Getting Destroyed Today
http://www.businessinsider.com/why-fertilizer-stocks-are-bloodletting-today-2013-7
The big losers this morning are companies like Potash, which is a big producer of fertilizer.
The stock is down 21% in the pre-market.
So what's going on with Potasha and its ilk?
Dave Lutz of Stifel, Nicolaus passes along the following:
Yesterday, Potash names surged late in the session as Dan Loebs Investor letter signaled a large position in CF.
This morning, OAO Uralkali, the worlds largest potash producer, broke up a marketing venture that controlled about 43 percent of global exports, signaling prices will weaken as the Russian company grabs market share - Uralkali plans to boost sales to consumers including China, which imports about a fifth of global supplies - Expects prices to fall to $300 a tonne from $400 a tonne.
Read more: http://www.businessinsider.com/why-fertilizer-stocks-are-bloodletting-today-2013-7#ixzz2aWsz9RQW
The big losers this morning are companies like Potash, which is a big producer of fertilizer.
The stock is down 21% in the pre-market.
So what's going on with Potasha and its ilk?
Dave Lutz of Stifel, Nicolaus passes along the following:
Yesterday, Potash names surged late in the session as Dan Loebs Investor letter signaled a large position in CF.
This morning, OAO Uralkali, the worlds largest potash producer, broke up a marketing venture that controlled about 43 percent of global exports, signaling prices will weaken as the Russian company grabs market share - Uralkali plans to boost sales to consumers including China, which imports about a fifth of global supplies - Expects prices to fall to $300 a tonne from $400 a tonne.
Read more: http://www.businessinsider.com/why-fertilizer-stocks-are-bloodletting-today-2013-7#ixzz2aWsz9RQW
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