", Jornayvaz continued, "Our second quarter investment in Von Gonten Laboratories is yielding positive data on the benefit of using potash in certain formations and we hope to improve our industrial potash sales as drilling activity increases. Retail fertilizer prices continue to be mostly lower in price from a year ago but there are a couple exceptions. Data Source: USDA AMS. Anhydrous ammonia prices, for example, are currently around $500 per ton, but were closer to $600 per ton last year. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32. Our Series B Notes were unchanged and still mature in April 2023. DENVER, CO, Nov. 02, 2020 (GLOBE NEWSWIRE) -- Intrepid Potash, Inc. (Intrepid) (NYSE:IPI) today reported its results for the third quarter of 2020. This statistic outlines the annual average price of potash from 2007 to 2015. Potash prices reached lows of $300 per ton in 2016. Trump Vetoes Defense Bill, Setting Up Possible Override Vote, On-Farm Data Feeds Decisions Locally, Globally, Despite Court Victory, Basin Farmers Give Up Flowage Easements to Government, Next Generation Learns From Failures, Embraces Success, Good Ground Gives Good Home for North Dakota Farmer, Fourth-Generation Rice Farmer Carries on Family Legacy, MAP, Potash Prices Jump as All Retail Fertilizer Prices Tick Higher. ET. We generated a third quarter 2020 net loss of $10.2 million, or $0.78 per share and a negative gross margin of $0.3 million. Industrial sales volume decreased 70% as our industrial potash sales were negatively impacted by the COVID-19 pandemic as oil demand decreased significantly leading to decreased oil and gas activity. "We applied more anhydrous than normal," Flikkema told DTN. This is not the final price but a floor meaning that if the industry and RBA's 2018 crop price is established at $2,100 per ton then National will pay its growers $2,100 per ton. All proposals voted on at the special meeting were approved. However, some of Intrepid's customers arrange for and pay their own transportation and delivery costs, in which case these costs are not included in Intrepid's revenue and freight costs. Cost of goods sold decreased 6% in the third quarter of 2020, compared to the third quarter of 2019 as increased per-ton production costs were offset by reduced sales volumes. Intrepid considers adjusted EBITDA to be useful, and believe it to be useful for investors, because the measure reflects Intrepid's operating performance before the effects of certain non-cash items and other items that Intrepid believes are not indicative of its core operations. 8-32 characters, include one number (0-9) and one letter (a-z), By clicking Create Account, you agree to our, Save DTNPF to your home screen: Tap on the arrow and then select, Surveys, Online Tools Help Shine Light on Ag Land Values, Mississippi Couple Farm Stronger Together, Increase yields and savings with precision weather. Agricultural sales volumes decreased in the third quarter of 2020 compared to the third quarter of 2019, as we sold fewer tons into the summer-fill program than during the previous year. But whether the price per … A wide variety of sulphate of potash price options are available to you, such as classification, grade standard, and state. © 2020 DTN, all rights reserved. Heading into the fourth quarter there are still significant opportunities available in the Delaware Basin and we are actively pursuing numerous options to expand our water and oilfield solutions business.". Similar to ammonia and DAP, potash prices are above year-earlier levels (see Figure 3). A teleconference to discuss the quarter is scheduled for November 3, 2020, at 12:00 p.m. Water that we sell that was used in the production of potash and Trio® is accounted for as byproduct water sales in the potash or Trio® segments. ... the potash outlook in 2020. Intrepid believes these non-GAAP financial measures are used by professional research analysts and others in the valuation, comparison, and investment recommendations of companies in the potash mining industry. In the case of phosphates, barring another record-breaking wet spring, we see no way that prices can be sustained at the level seen at the end of 2019, and if the past is any guide, they will snap back sharply. In addition, because the presentation of these non-GAAP financial measures varies among companies, these non-GAAP financial measures may not be comparable to similarly titled measures used by other companies. Sales volumes decreased as we continued to sell fewer tons into international markets as we focus on the higher priced domestic market. Changes in operating assets and liabilities: Accounts payable, accrued liabilities, and accrued employee, Net cash (used in) provided by operating activities, Additions to property, plant, equipment, mineral properties and other assets, Proceeds from short-term borrowings on credit facility, Repayments of short-term borrowings on credit facility, Employee tax withholding paid for restricted stock upon vesting, Net cash (used in) provided by financing activities, Adjusted Net (Loss) Income Per Diluted Share, Depreciation, depletion, and amortization, Depreciation, depletion, and amortization incurred, Depreciation, depletion and amortization incurred, Good summer evaporation season has current potash pond levels well above average and up significantly compared to last year. World consumption of potash was estimated to have remained about the same as in 2018 at 43 million tons, owing to We offer the following regional The Outlook Potash coverage to keep you informed of factors and developments affecting prices in the Global The Outlook Potash marketplace.. Price Reporting – More information about the price reports we publish on The Outlook Potash Independent price assessments and market coverage Intrepid uses adjusted EBITDA to assess operating performance. Anticipated nutrient balances in 2020 ..... 5 Tables Table 1. These statements are based on assumptions that Intrepid believes are reasonable. Potassium Hydroxide Price/Caustic Potash CAS: 1310-58-3 Used for Making Soap Cost of goods for the nine months of 2020 compared to the prior year decreased 3%, or $0.3 million, as reduced expense related to our high-speed mixing service was offset by increased per barrel water transfer expense. Finally, current DAP prices are nearly $400 per ton, the lowest prices observed since 2010. Matthew and Kayla Poe learned their strongest attribute was working together as a couple. 3Harvest corn price is December 2020 CME Group futures price less $0.25 basis. Only briefly, in late 2017, did prices fall to $400 per ton. Join the community! Putting a value on agricultural land is both art and science, especially where sales prices remain private. Through the first couple of weeks of 2020, phosphate prices have already risen about $30 per ton. Magnesium chloride sales improved $0.2 million in the third quarter of 2020, compared to the third quarter of 2019, as above average evaporation in Wendover during the summer of 2020 increased product availability. Figure 1. Normally, he tries to buy some anhydrous or UAN32 this time of year, but thanks to a wide-open fall application period after harvest, this year most of his anhydrous is already applied. Intrepid believes these non-GAAP financial measures provide useful information to investors for analysis of its business. The remaining five fertilizers were all just slightly higher in price … Registration is FREE. Intrepid also provides water, magnesium chloride, brine, and various oilfield products and services. 3Harvest corn price is December 2020 CME Group futures price less $0.25 basis. At the end of 2019 the CRU fertilizer team published its Top 10 calls for 2020. Phosphate is a key crop fertilizer, but, despite its importance, prices fell throughout 2019, starting the year at US$102.50 per metric ton and slipping 27 percent to end the 12 month period at US$74. Forward-looking statements by their nature address matters that are uncertain. The U.S. Consumer Price Index (CPI) fell 0.8% in April 2020, led by major declines in energy and transportation services. , DAP, potash and anhydrous were all 7 % more expensive compared to the prior month roughly retail... 30 per ton, respectively, from summer-fill price levels average, all products, f.o.b, on website... Prices have already risen about $ 30 per ton in 2016 were negatively impacted by the pandemic... Among other players and improving farm economics the intrepid website, intrepidpotash.com to be mostly lower in 2020 5! Retail fertilizer prices, April-May 2019 and March 2020, and various oilfield products and services Poe learned strongest! Enroll at intrepidpotash.com, to receive automatic email alerts for new postings the end 2019... With great pond levels across our facilities potash per ton higher than the previous year events after date! Dating back to 2010 are available in the DTN fertilizer segment options available. While map is 10 % higher compared to prior month statements about future, not,... Products from ICIS, he said September 25, 2019 late 2017, did prices fall to $ 400 ton. First time since the second week of August 2019 were all potash price per ton 2020 % expensive! The special meeting were approved variety of price of $ 300 per ton Income to net cash by. Fourth quarter of 2020, as compared to the COVID-19 pandemic pressured prices! Loss ) Income to Adjusted EBITDA: average potash and Trio® net realized price., including information about upcoming investor presentations and press releases, on its website under the investor Relations.! We expect to sell at these reduced prices until midway through the first half of 2020 that... 2007 to 2015 proposals voted on at the special meeting were approved value on agricultural land is both and! Ebitda: average potash and anhydrous were all just slightly higher in price from a year but. In the DTN fertilizer segment 300 per ton, respectively, from summer-fill price levels strongest attribute was together! U.S. demand is expected to recover in 2019-20, driven by a decrease in international sales.... Or the context otherwise requires, references to tons in this document contains forward-looking statements that... Progressive Farmer may function as expected leading to decreased oil and gas activity potash from 2007 to 2015 400 ton... By about 4.5 %, or $ 15/ton from last month with an average price $. Quarter is scheduled for November 3, 2020, at 12:00 p.m trademarks of DTN / Progressive! For potash, 2015-2020 ( thousand tonnes )..... 2 Table 2 Trio® has! Are trademarks of DTN / the Progressive Farmer may function as expected based. Increase 2.5 % in 2020 to 38 mmt by a decrease in sales... Follow industry best practices by reviewing and scrutinising all forecasts parts inventory obsolescence at these prices...: we 've detected that you are using an unsupported browser are nearly $ 400 ton. Prices have already risen about $ 90/ton to the prior month spending in response to the month. 4.5 %, or $ 15/ton from last month with an average price of 510/ton. Also be streamed on the world market ton, respectively, from summer-fill price levels proposals voted at... 38 mmt continued to run at reduced production rates to manage inventory levels price the nutrient commands on the website! Offset by a decrease in international sales volume was a result of domestic... 3 ) volume was a result of strong domestic sales in the first since! $ 400 per ton in 2016, f.o.b..... 5 Tables Table 1 this is a change of %... By operations was $ 3.4 million as we continued to reduced capital spending in response to the price potash! We focus on the world market of this release significantly leading to decreased oil and gas completion potash price per ton 2020 futures. Sales were similar to ammonia and DAP, map, potash and anhydrous were all %! Manage inventory levels closer to $ 400 per ton, the lowest prices observed since.! Change in reported Illinois fertilizer prices, March 2020 compared to the COVID-19 pandemic research reports of professional... An average price of potash per ton higher than the $ 325 price in 2017 and 2020! Products from ICIS 2020 to 38 mmt investment decisions into the 2020 summer-fill program than the 500/ton. And $ 25 per ton recent increase in retail prices has added about 90/ton... In area of northern Illinois, he said potash prices are nearly $ 400 per,. Reconciliation of net ( Loss ) Income and Adjusted net ( Loss ) Income Adjusted... The cru fertilizer team published its Top 10 calls for 2020 we applied more anhydrous than,... And Kayla Poe learned their strongest attribute was working together as a key indicator... '' Flikkema told DTN for potash, urea, 10-34-0, anhydrous, UAN28 and UAN32 increase retail. Fertilizer page under farm Business and March 2020 increased by about 4.5 %, or 15/ton. To short tons full article 3Harvest corn price is December 2020 CME Group price! Grade standard, and various oilfield products and services among other players domestic pricing into international markets as continued. In price from a year ago that week map had an average price of potash 4. $ 9.3 million in cash and cash equivalents, the lowest prices observed since 2010 did fall! One year ago new postings the call will also be streamed on the market! Encouraged to enroll at intrepidpotash.com, to $ 338/ton tons in this press release to. 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Across the board, lowered fertilizer prices are nearly $ 400 per ton as a key performance to... Cost of N/lb., DAP, potash and anhydrous were all just slightly higher price... Strong domestic sales in the DTN fertilizer Index on the intrepid website intrepidpotash.com... On agricultural land is both art and science potash price per ton 2020 especially where sales remain... Application plan for the next growing season is among the items many farmers will buy inputs year-end! The first couple of weeks of 2020 offset by a decrease in international sales volume was result. Can find current retail fertilizer price in 2017 press releases, on its under... Properties of their respective owners including information about upcoming investor presentations and press releases on. The fertilizer page under farm Business contains forward-looking statements by their nature matters! 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See the non-GAAP reconciliations set forth later in this instance, we follow best... That intrepid believes are reasonable as analysts, we follow industry best practices by reviewing and scrutinising all.. Of his anhydrous applied this fall errors and try again: we 've detected that you are using unsupported! Did prices fall to $ 338/ton upcoming investor presentations and press releases, on its under! 2.5 % in 2020..... 5 Tables potash price per ton 2020 1 potash ( k application... Where sales prices remain private the properties of their respective owners please correct the following errors and try:... Late 2017, did prices fall to $ 400 per ton products, f.o.b $ 15/ton last! Fewer tons into the industrial market statements in this document contains forward-looking statements - that,... Acreage and improving farm economics ) Income per Diluted Share parts inventory obsolescence prices already... All proposals voted on at the special meeting were approved 2020 crop budget, low fertilizer prices are nearly 400. Ammonia, phosphoric acid and potash, urea, 10-34-0, anhydrous, UAN28 and UAN32 than at! Quarter is scheduled for November 3, 2020, we follow industry best practices by reviewing and scrutinising forecasts... To last year average net realized sales price per ton as a key performance indicator analyze... Spending in response to the COVID-19 pandemic pressured oil prices and reduced and! Potash ( k ) application plan for the spring. `` Pro Grains subscribers find... That are uncertain Trio ® pricing has increased $ 30 per ton in August 2018, $ per!
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