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(PortOfThunderBay.com)
Crops, Markets

Thunder Bay grain shipments up on year

Grain traffic contributes to increase in overall cargo handle

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MarketsFarm — Grain shipments through the Port of Thunder Bay are running well ahead of the year-ago level, with 3.747 million tonnes of grain shipped through the port on the northern shores of Lake Superior as of Aug. 31. That was up by 1.1 million tonnes from the previous year’s pace, but slightly behind the
News

Mosaic CEO to step down

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Reuters – Fertilizer maker Mosaic’s CEO, James O’Rourke, will step down from his position effective Dec. 31, ahead of his planned retirement next year, the company said Aug. 29. Shares of the top U.S. phosphate maker fell 1.7 per cent in extended trading. Bruce Bodine, Mosaic’s senior vice-president of North America, will take charge as
Mosaic’s K2 potash plant near Esterhazy, Sask. in 2015.
News

Mosaic restarts Canadian potash mine

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Reuters – Mosaic restarted a Canadian potash plant last month after idling it since December due to waning demand for the crop fertilizer. The company says it expects tight supplies through 2023. Mosaic restarted the Colonsay, Sask., mine to offset a short-term drop in potash production that was due to summer maintenance at the larger
(Video screengrab from SQM.com via YouTube)

Nutrien to pause potash ramp up, ammonia project on falling prices

Potash prices have eased after the resumption of shipments from major supplier Belarus

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Reuters – Nutrien NTR.TO on Wednesday decided to indefinitely pause its ramp-up plans for potash production and halt work on its clean ammonia project at Geismar, Louisiana, as the world’s biggest fertilizer producer grapples with falling prices. Its U.S.-listed shares fell 2.6% in extended trading as the company cited market conditions for stopping efforts to
Nutrien’s head office building in Saskatoon. (Liam O’Connor photo)
Crops

Nutrien cuts output as West Coast port strike hits day 11

Longshore union, management met Monday night, source says

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Ottawa | Reuters — The world’s biggest fertilizer producer Nutrien cut production on Tuesday, citing the impact of a 11-day-old strike in Canada’s Pacific ports whose cost has now ballooned to an estimated $6 billion. Some 7,500 dock workers represented by the International Longshore and Warehouse Union (ILWU Canada) walked off on July 1 after
(PortOfThunderBay.com)
Crops

Thunder Bay grain shipments up on year

Less potash moved so far this year

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MarketsFarm — Grain shipments through the Port of Thunder Bay are running well ahead of the previous year’s pace, according to updated data from the Lake Superior facility. Grain shipments through the end of June of about 2.5 million tonnes were up by 760,000 from the same point the previous year. Monthly shipments in June
Manitoba’s first potash mine begins production
News

Manitoba’s first potash mine begins production

Business plan focuses on local economic development

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After decades of exploration and several attempts, Manitoba’s first potash mine is up and running. The Potash and Agri Development Corporation of Manitoba (PADCOM) mine is near Harrowby, 16 kilometres west of Russell. It is expected to produce between 100,000 and 250,000 tonnes of potash per year. “After years of researching the potential of this
Nutrien may further slow potash expansion
News

Nutrien may further slow potash expansion

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Reuters – Nutrien may consider further slowing its expansion of potash capacity after falling prices and sales volumes led the world’s biggest fertilizer producer to cut its annual profit guidance. Potash prices have been volatile since Russia invaded Ukraine in February 2022. Sanctions against big global producers Russia and Belarus initially drove up prices, causing
Nutrien’s head office building in Saskatoon. (Liam O’Connor photo)
Crops, Markets

Nutrien cuts earnings forecast after quarterly profit misses estimates

High fertilizer prices seen dragging on demand

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Reuters — Nutrien Ltd. on Wednesday cut its forecast for 2023 earnings as elevated fertilizer prices owed to Western sanctions on Russia and Belarus weigh on demand. U.S.-listed shares of the company fell 3.9 per cent in extended trading Wednesday as it also reported a lower-than-expected quarterly profit. Though fertilizer prices have dipped from record
(Dave Bedard photo)
Crops, Markets

Mosaic misses profit estimates on lower prices of fertilizers

Farmers seen waiting on prices to stabilize

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Reuters — Mosaic Co. on Wednesday missed Wall Street estimates for first-quarter profit on lower prices of potash and other crop fertilizers, even as the fertilizer maker sold higher volumes. Although prices of fertilizers such as phosphates and potash decreased during the reported quarter, it did not boost demand as farmers waited for pricing trends

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