NTR - Canadian rail workers threaten strike creating further risk to fertilizer supply

As with most commodities, fertilizer prices are bouncing around record levels. A fertilizer price index created by Bloomberg, which tracks Urea, Potash and DAP pricing in the US, was quoted near 30y highs Wednesday. The war in Ukrainian threatens to tighten the market, as Russia accounts for ~21% of the global potash market, according to the Fertilizer Institute. With news of a looming rail strike in Canada, fertilizer names are rallying.  Canada produces ~39% of global potash, and US farmers source the majority of their Potash from Canada, according to the Fertilizer Institute. Wednesday, 3,000 workers at Canadian Pacific (NYSE:CP) have voted to strike by March 16, if their demands are not met. A rail strike in Canada ahead of the spring planting season could spell disaster for US farmers, and further squeeze food prices.  Domestic fertilizer producers stand to benefit if a strike ensues, and Mosaic (NYSE:MOS), CF Industries (NYSE:CF),

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Canadian rail workers threaten strike, creating further risk to fertilizer supply