NTR - Food prices march higher lift fertilizer stocks

The Bureau of Labor Statistics released its March CPI report Tuesday, flagging multi-decade high inflation, and spiking food costs. "Food away from home" prices rose 6.9% year on year, while "food at home" rose 10.0% versus the same period one year ago. The UN food price index has risen sharply, to record highs, in recent months: While rising gasoline prices have had a direct impact on consumers, rising natural gas in Europe has helped lift fertilizer prices. Morgan Stanley released a report Tuesday, calling for sustained, elevated natural gas prices in Europe through 2025. A forecast that would all-but-ensure continued elevated fertilizer and food costs.  Additionally, Tuesday, the President provided waivers to the oil and gas industry, allowing for increased blending of ethanol during the summer of 2022. The measure comes on the back of soaring corn prices. Paired with increased soybean demand from a growing bio-diesel industry, the measure

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Food prices march higher, lift fertilizer stocks