Analyst Bullish On Fertilizer Industry

The Red River Network reports that a Merrill Lynch analyst says the fertilizer industry may soon enjoy a rebound.

Steve Byrne says prices for nitrogen and phosphate have fallen below break-even levels for high-cost producers, forcing some cuts in production.

Byrne thinks fertilizer prices could continue to drift lower, but he thinks this has largely been discounted by the market, resulting in more upside potential than downside risk.

(Source: AgriMarketing)