How Nitrogen Margins for Fertilizer Companies Trended in 4Q17

In the recent quarters, fertilizer companies (MOO) have rationalized their output and costs to survive the downward momentum in fertilizer prices. The trend was also evident in potash, phosphate, and nitrogen fertilizers. More recently, prices of natural gas, a key input for nitrogen fertilizers, have also trended lower and are estimated to further decline in 2019. Learn more in How Did Fertilizer Prices Move Last Week? On the other hand, the realized prices have increased in 4Q17 as we discussed earlier.