00:00It's Benzinga, bringing Wall Street to Main Street.
00:02A surge in fertilizer prices linked to Middle East fighting is boosting shares of North American fertilizer producers
00:08while raising costs for U.S. farmers ahead of spring planting, according to the Wall Street Journal.
00:14Disruptions have reduced the global supply of ammonia, urea, sulfur, and phosphates
00:19and blocked about 20% of liquefied natural gas supply used by fertilizer makers overseas.
00:24European natural gas prices have climbed 58% since the bombardment of Iran began,
00:30while U.S. gas futures are up 13%, giving American producers a cost advantage.
00:36Shares of CF Industries have risen 76% this year, while Mosaic and Nitrogen are up 30% and 36%.
00:44Farmers report fertilizer prices have risen about 30%.
00:47Some growers plan to plant more soybeans or reduce fertilizer use, lowering expected crop yields.
00:53For all things money, visit Benzinga.com.
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