SASKATOON — Nutrien Ltd. says lower crop prices last year from trade uncertainty and high crop yields put pressure on its customers but that it expects the situation to improve this year.
Prices are already improving for key crops and the fundamentals have improved, said company CEO Chuck Magro on an earnings call Thursday. “We do expect farmer economics to improve in 2019, crop prices are up.”
He said farmers in the key U.S. market had a tough time last year as a trade dispute saw China impose tariffs on some U.S. crops. “Crop prices started to recover early in the year… but then the trade uncertainty hit, that provided a significant amount of pressure on crop prices, and that has hurt our farmer customers.” Continue Reading →