Mosaic (MOS) has been a terrible performer this year, with shares down 50% YTD. While we had initially thought this was warranted due to COVID-19 hitting the prices of agricultural products, upon further research, we have discovered that COVID-19 could actually be beneficial to Mosaic, therefore, we have added to our position recently.
Lower crop prices
Initially, we had believed that fertilizer demand would be down significantly due to lower prices of soybean, corn, and palm oil, all of which are planted by Mosaic's customers.
Palm oil prices were initially strong