Fertilizer stocks fall after US-Iran ceasefire
Fertilizer shares drop premarket, among the few laggards, after U.S. President Donald Trump agreed to a two-week ceasefire with Iran
CF Industries CF.N slides 8.2%, Mosaic MOS.N falls 2.8% and U.S.-listed shares of Nutrien NTR.N dip 3.2%
That contrasts with a broad rally in U.S. stocks; S&P 500 futures up 2.5% .N
Urea prices soared in recent weeks amid supply disruption stemming from the closure of the Strait of Hormuz due to heightened tensions in the Middle East
Fertilizer companies benefit from higher prices of urea, a major component of some fertilizers
Up to last close, shares of CF have soared 73% YTD, MOS 9.5%, NTR ~62% while S&P 500 Fertilizers & Agricultural Chemicals .SPLRCCHFA had gained 54.4%
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