MOS - Mosaic CF top S&P leaderboard as Belarus diverts potash supplies
Fertilizer names surge near 52-week highs as prices for several retail fertilizers continue to hit all-time highs and the Lithuanian government halts the use of its railway for Belarus to export potash fertilizer to Europe and beyond. Two of the top three gainers on the S&P 500 are fertilizer producers Mosaic (MOS +8.5%) and CF Industries (CF +7.2%); Nutrien (NTR +4.4%) and Intrepid Potash (IPI +5.1%) also trade sharply higher. According to Reuters, Belarus says it is diverting potash shipments from Lithuania's Klaipeda port on the Baltic Sea to Russian ports after Lithuania said Belarus, which is under U.S. and European sanctions, could no longer use its ports to export the crop nutrient. State-owned Belaruskali, the world's second largest potash producer, typically exports 12.5M metric tons/year of potash from Klaipeda. Shares of North American potash producers such as Nutrien and Mosaic have been rising during the past two months, as analysts
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Mosaic, CF top S&P leaderboard as Belarus diverts potash supplies