The latest Nutrien annual report reflects ongoing strong demand for crops.
The report says crop prices are being supported by strong global demand and reduced supply, resulting in strong grower margins.
The company expects the market fundamentals to continue beyond this season and be supportive of crop prices and grower margins into 2022.
Growing conditions across North America vary, with favorable crops in the U.S. south and east, and drought in the western U.S., Northern Plains and Canadian prairies.
There may be some regional demand changes for crop inputs, but the outlook says the strong outlook for crop prices, and a normal window for fall application, Nutrien expects U.S. fertilizer demand and post harvest crop protection applications to be strong.
Brazil continues to suffer from drought, but Australia has good rain and the largest seeded area in history.
The report sdays global potash shipments are projected to reach a record 70 million tons this year, while inventory will be historically low going into the new year.
This is supported by strong potash consumption backed by favorable agricultural fundamentals, with further upside limited by global supply issues and most producers operating at peak rates.
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