Agree with you that farmers are insured and will still grow corn even at low prices. They've proven it in the past, however they are no longer subsidized starting this year. New program eliminated subsidies. Just to clarify, though I don't think it will change much. It should be acknowledged. There is a chance it may cause higher than normal plantings during low prices, as they are not receiving subsidies and can't leave land fallow. And with beans and corn both lower, their options are limited
Well we have seen that before with this company. And my small percentage fear in the back of my head is that could have happened back when this stock got hammered to 17 for no reason we could see a couple/few weeks ago. Was the case about this time a year ago. Don't see that happening this time, but also didn't last year when I stuck my neck out and it took until Q1 to make it back right.
This is great. But they aren't the first with this view. There a few others with approx same target. So what gives? When are the buyers or funds going to catch on? Maybe Carl will buy a bigger stake lol
Need to look at the positive in this comment. If RNF can be up 3%, then somebody is buying nitrogen stocks and may soon trickle over to UAN.
Lol we been saying that the past month....... I don't disagree, but running out of funds. When will this pig flip over? I'm hoping it's just people following the corn market, but the actual numbers will show strong. A portion of me is a bit nervous though.... About some possible unreported incident that shows up down the road. They've done it before.
It is possible that some are taking profits, as it did make a nice little run up last week even though low volume, and kind if stalled out here at just under 19. Not enough volume ie buyers to push higher, therefore take the gain and wait and see until closer to Q2 report. Just my thought. More so than any fundamental reason
Agreed. Added to my position as well under 18 yesterday. Nice to see a strong move today. Hoping for some strength and base building around the 19 level before moving into Q2 report. Looking like it may be possible now, unless this is a dead cat.
Have finally bottomed and can maybe start the turn?
Surely shorts have begun to take profits. We have filled the gap that it was charging after, volume though not high has been better (slight above ave), drop in corn has finally slowed, supposed strong Q2 just around the corner. It seems as though this stock is ready for a buy and bounce from an oversold state.
100% correct. Fertilizer is. Huge portion of expense in any farming operation. Why would anyone apply more fertilizer that needed and just throw money away? It's frustrating with articles portraying such a negative spin. When on the very next page they are concerned about producing enough food to feed the world. Well it can't happen without fertilizer.
Dead money and no action would be better than alive and digging a deeper hole burying itself. I can live with dead. Lol
It seems as though UAN stock price is following corn prices as it has it the past, but seems incorrect to do so at this time. Fert usage has already been locked in. Corn price has fallen due to high production. You don't get record production without using fertilizer. This being said, they did estimate a small reduction in corn acreage across the US, but the percentage is so small we won't even notice it with UAN. Especially if the reduction is coming from areas outside UANs local area. Now maybe this effects next years planting, but sure seems positive for Q2 at these lowered levels.
Well just one more session like today ought to get that gap covered. We are to this point now, we just as well get there and get it over with