Report
Seth Goldstein
EUR 100.00 For Business Accounts Only

Higher Prices and Catch-Up Volumes Highlight Our 2Q Earnings Takeaways for the Agriculture Space

After unfavorable weather weighed on first-quarter results for many of the ag companies we cover, volumes rebounded for nearly all companies in the second quarter. Through the first half of 2018, demand for nearly all crop input categories is roughly even with the first half of 2017. In crop chemicals, the shortened planting season resulted in greater demand for in-season herbicides and insecticides. We now expect crop chemicals volumes to be nearly flat in 2018 compared with 2017.
In fertilizer...
Underlying
Nutrien Ltd.

Nutrien Ltd is Canada-based crop nutrient producer and distributer of potash, nitrogen and phosphate products for agricultural, industrial and feed customers worldwide. The Company is focused on retail, potash, nitrogen and phosphate mining and processing operations. The Company's retail operations serve growers in a number of countries across the United States, Canada, South Africa, Australia and South America. The Company operates six potash mines in Saskatchewan and has a mine in New Brunswick in care-and-maintenance mode. The Company operates integrated phosphate mining and processing facilities, as well as a number of smaller upgrading plants in the United States.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Seth Goldstein

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