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Following record-breaking floods in the U.S. and a turbulent growing season in 2019, we remain optimistic about the outlook for the agribusiness sector in 2020. Bad weather in parts of the Midwest prevented farmers from wrapping up their 2019 harvests on time, with more than 10% of corn acreage still unharvested in states like Ohio, Michigan, and North Dakota as of December 1, according to the U.S. Department of Agriculture (USDA). Consequently, this should push out most fertilizer applications to the spring (2020). Furthermore, the fertilizer applications