Reported Illinois Fertilizer Prices, April-May 2019 and March 2020. Adjustments to reconcile net (loss) income to net cash provided by operating activities: Allowance for parts inventory obsolescence. The simplest measure of the health of the potash industry is the price the nutrient commands on the world market. Harvest soybean price is November 2020 CME Group futures price less $0.35 basis. Year-to-date magnesium chloride sales were similar to the prior year. Figure 1. MAP was up 5% from last month with an average price of $510/ton. Price, dollars per ton of K2O, average, all products, f.o.b. As of September 30, 2020, we had $9.3 million in cash and cash equivalents. Price Lower in 2020 As producers updated their 2020 crop budget, low fertilizer prices were a welcome improvement. The end of the year is when many farmers will buy inputs for year-end tax planning purposes. 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. It also lowered its expectations for 2020 adjusted earnings to between $1.50 per share and $2.10 per share, below the prior range of $1.90 per share to $2.60 per share. 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 • Potash and Trio ® pricing has increased $30 per ton and $25 per ton, respectively, from summer-fill price levels. As a member of the DTNPF online community you can contribute to discussions, save your settings, get exclusive email alerts and access to special online sections, and read e-newsletters. 40 price of potash per ton products are offered for sale by suppliers on Alibaba.com, of which alkali accounts for 17%, potassium fertilizer accounts for 2%. MAP had an average price of $522/ton, up $34; potash $360/ton, up $24; and anhydrous $450/ton, up $28. MAP was over the $500/ton level for the first time since the second week of August 2019. Fertilizer prices reported out of Illinois in March 2020 were significantly lower than in spring 2019. Intrepid considers average net realized sales price per ton to be useful, and believe it to be useful for investors, because it shows Intrepid's potash and Trio® average per ton pricing without the effect of certain transportation and delivery costs. Anticipated nutrient balances in 2020 ..... 5 Tables Table 1. Three fertilizers were up a significant amount, which DTN designates as 5% or more. • Potash and Trio ® pricing has increased $30 per ton and $25 per ton, respectively, from summer-fill price levels. Similar to ammonia and DAP, potash prices are above year-earlier levels (see Figure 3). DENVER, CO, Nov. 02, 2020 (GLOBE NEWSWIRE) -- Intrepid Potash, Inc. (Intrepid) (NYSE:IPI) today reported its results for the third quarter of 2020. We undertake no duty to update or revise publicly any forward-looking statements to conform the statements to actual results or to reflect new information or future events. A wide variety of sulphate of potash price options are available to you, such as classification, grade standard, and state. Africa Fertilizer News: Minbos Resources, Kore Potash and CF Fertilizers Oil & Gas Update: Greece’s Trans-Adriatic Pipeline, Nigeria’s Oil Leaks and Green Hydrogen as Game Changer Phosphate Rock: 2020 World Market Review and Forecast to 2027 Potash & Phosphate Company Update: Kore Potash, Davenport Resources and Verdant Minerals Fertilizer Corporate News: American Pacific … On July 17, 2020, we made an early voluntary repayment on our Series C Senior Notes in the amount of $17.1 million, which included $15.0 million in remaining principal, a reduced make-whole payment, and accrued interest. POTASH . In addition, Intrepid produces a specialty fertilizer, Trio®, which delivers three key nutrients, potassium, magnesium, and sulfate, in a single particle. But based on your disclosure, is it fair to assume potash pricing will be down about $10 to $20 per ton quarter over quarter in Q3 and Trio pricing down 15% to 20 per ton. The forward-looking statements in this document relate to, among other things, statements about Intrepid's future financial performance, cash flow from operations expectations, water sales, production costs, acquisition expectations and operating plans, its market outlook, and the impact of the COVID-19 pandemic on the company. All proposals voted on at the special meeting were approved. "We planned on doing some more p and k this coming spring on top of some we did this fall, but the price has increased $150/ton," he said. Potash prices reached lows of $300 per ton in 2016. As analysts, we follow industry best practices by reviewing and scrutinising all forecasts. Production volume decreased 15% compared to the first nine months of 2019, due to reduced production rates, fewer tons of work-in-process inventory converted to premium Trio®, and increased losses in our pelletization process. 3Harvest corn price is December 2020 CME Group futures price less $0.25 basis. Unless expressly stated otherwise or the context otherwise requires, references to tons in this press release refer to short tons. Not all features of DTN / The Progressive Farmer may function as expected. MAP, potash and anhydrous were all 7% more expensive compared to the prior month. The August and September 2018 levels are below 2008 to 2018 average of $528 per ton in August and $535 per ton in September. Finally, current DAP prices are nearly $400 per ton, the lowest prices observed since 2010. Intrepid also provides water, magnesium chloride, brine, and various oilfield products and services. The remaining five fertilizers were all just slightly higher in price … Figure 1. Retail fertilizer charts dating back to 2010 are available in the DTN fertilizer segment. MAP was up 5% from last month with an average price of $510/ton. When Intrepid arranges transportation and delivery for a customer, it includes in revenue and in freight costs the costs associated with transportation and delivery. Minimum 15 minutes delayed. Sales increased 2% for the nine months ended September 30, 2020, as compared to the same period in 2019 primarily due to a 4% increase in volume sold, offset partially by reduced byproduct sales of water and salt, and a lower average net realized sales price for Trio®. 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 expect the COVID-19 pandemic and related global economic conditions will reduce sales of water and other oilfield products through at least the fourth quarter of 2020. 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. Read full article Across the board, lowered fertilizer prices are observed. Sales decreased $6.0 million in the first nine months of 2020, compared to the same period in 2019, mainly due to a $3.1 decrease in water sales and a $2.0 million decrease in potash used in our high-speed mixing service. Putting a value on agricultural land is both art and science, especially where sales prices remain private. A wide variety of price of potash per ton options are available to you, such as potassium hydroxide. Potash price averaged $354 per ton in August 2018, $29 per ton higher than the $325 price in 2017. The selling price in the contract is $50 per ton, below the previous contract and but line with the recent contract prices in India. Harvest soybean price is November 2020 CME Group futures price less $0.35 basis. Our feed sales were up 28% compared to the prior year. Cost of goods sold decreased for the three and nine month period of 2020, compared to the same periods in 2019, primarily due to a 15% and 8% decrease in sales volume, respectively. Change in Reported Illinois Fertilizer Prices, March 2020 compared to April-May 2019. Potash Fertilizer Price - Select 2020 high quality Potash Fertilizer Price products in best price from certified Chinese Potash Feldspar manufacturers, Potash Hydrate suppliers, wholesalers and factory on Made-in-China.com The reverse stock split became effective August 14, 2020. It is not possible for Intrepid to predict all risks that may cause actual results to differ materially from those contained in any forward-looking statements Intrepid may make. The spike in retail prices has also affected his phosphorous (p) and potash (k) application plan for the spring. 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. We consider these non-GAAP financial measures to be useful because they allow for period-to-period comparisons of its operating results excluding items that we believe are not indicative of its fundamental ongoing operations. Intrepid is a diversified mineral company that delivers potassium, magnesium, sulfur, salt, and water products essential for customer success in agriculture, animal feed, and the oil and gas industry. Grow your production, efficiencies, and profitability. 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. Contact:Matt Preston, Vice President - FinancePhone:  303-996-3048Email: matt.preston@intrepidpotash.com, INTREPID POTASH, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2020 AND 2019 (In thousands, except per share amounts), INTREPID POTASH, INC.CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)AS OF SEPTEMBER 30, 2020 AND DECEMBER 31, 2019(In thousands, except share and per share amounts), INTREPID POTASH, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2020 AND 2019(In thousands). Harvest prices were based on opening prices on September 25, 2019. These prices will change. Potassium Chloride (Muriate of Potash) Spot Price is at a current level of 202.50, unchanged from 202.50 last month and down from 265.50 one year ago. Finally, current DAP prices are nearly $400 per ton, the lowest prices observed since 2010. Intrepid believes these non-GAAP financial measures provide useful information to investors for analysis of its business. "DTN" and the degree symbol logo are trademarks of DTN. To supplement Intrepid's consolidated financial statements, which are prepared and presented in accordance with GAAP, Intrepid uses several non-GAAP financial measures to monitor and evaluate its performance. Finally, current DAP prices are nearly $400 per ton, the lowest prices observed since 2010. See the non-GAAP reconciliations set forth later in this press release for additional information. These prices will change. Nutrien’s potash sales for this year are now estimated at between 11.6 million and 12 million tonnes, down 300,000 tonnes from September, and one million tonnes lower than its estimate in July. MAP was over the $500/ton level for the first time since the second week of August 2019. Potash Prices. Harvest wheat price is July 2020 CME Group futures price less $.35 basis. We also sold fewer tons into the industrial market. 2020 (in thousands, except per ton amounts) Potash Trio® Total Segment Sales $ 33,791 $ 22,581 Less: Segment byproduct sales 3,973 1,380 Freight costs 4,540 6,534 Subtotal $ 25,278 $ 14,667 Divided by: Tons sold 99 76 Average net realized sales price per ton $ 255 $ 193 DENVER, CO, May 06, 2020 -- - Intrepid Potash, Inc. (Intrepid) (NYSE:IPI) today reported its results for the first quarter of 2020. That's $35/ton lower than the 5-year average price and 12% lower than prices at the same time last year. The global potash market of around 65m tonnes per year has rallied since mid-2016, boosted in part by idled capacity in North America and robust demand from Brazil and China. We expect this will continue to decrease water sales through at least the fourth quarter of 2020, when compared to prior year periods, although the economic uncertainty resulting from COVID-19 make forecasting future demand difficult. In June 2020, a summer-fill program was announced by our competitors that lowered the price $40 per ton and $30 per ton in the corn belt and western United States, respectively, from current list prices. MAP, potash and anhydrous were all 7% more expensive compared to the prior month. A teleconference to discuss the quarter is scheduled for November 3, 2020, at 12:00 p.m. 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. We recorded a $2.9 million lower of cost or net realizable value inventory adjustment in the first nine months of 2020, primarily due to the summer-fill price announced by our competitor in June 2020 which lowered the list price on Trio® by $15-$20 per ton. Sales in the third quarter of 2020 decreased compared to the same period in 2019, due to a 15% decrease in sales volume, a 11% decrease in our average net realized sales price per ton and a $1.4 million decrease in byproduct sales. Sales decreased $4.3 million in the third quarter of 2020, compared to the same period in 2019, mainly due to a $3.5 million decrease in water sales and a $0.8 million decrease in sales of other oilfield products and services. Please correct the following errors and try again: We've detected that you are using an unsupported browser. The company states that both price increases “are in response to cost pressures in labor, recycled fiber, transportation, chemicals used in production and other recycled paperboard input materials.” Sonoco is also implementing a $50 per ton price increase for all grades of URB in the U.S. and Canada, effective with shipments beginning May 13. Agricultural volumes were 5% less than prior year as we sold fewer tons into the 2020 summer-fill program than the previous year. Adjusted Net (Loss) Income and Adjusted Net (Loss) Income Per Diluted Share. Only briefly, in late 2017, did prices fall to $400 per ton. Intrepid uses adjusted EBITDA to assess operating performance. 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. Potassium Hydroxide Price/Caustic Potash CAS: 1310-58-3 Used for Making Soap All other trademarks are the properties of their respective owners. Cash used in investing activities was $3.4 million as we continued to reduced capital spending in response to the COVID-19 pandemic. "Our third quarter results continue to be affected by the COVID-19 pandemic as oilfield activity and water sales remain below prior year levels, but up significantly from the second quarter of 2020," said Bob Jornayvaz, Intrepid's Executive Chairman, President, and CEO. All information in this document speaks as of the date of this release. Total world nutrient capacity of ammonia, phosphoric acid and potash, 2015-2020 (thousand tonnes)..... 2 Table 2. That week MAP had an average price of $503/ton. Most recently, price have been closer to $400 per ton. On a price per pound of nitrogen basis, the average urea price was at $0.39/lb.N, anhydrous $0.26/lb.N, UAN28 $0.37/lb.N and UAN32 $0.39/lb.N. Likewise, average net realized sales price per ton for Trio® is calculated as Trio® segment sales less Trio® segment byproduct sales and Trio® freight costs and then dividing that difference by Trio® tons sold. Only briefly, in late 2017, did prices fall to $400 per ton. Registration is FREE. Potash prices increased by about 4.5%, or $15/ton from last month, to $348/ton. "Our third quarter results continue to be affected by the COVID-19 pandemic as oilfield activity and water sales remain below prior year levels, but up significantly from the second quarter of 2020," said Bob Jornayvaz , Intrepid's Executive Chairman, President, and CEO. Average net realized sales price per ton was lower in both the three and nine month periods of 2020, compared to 2019, due to price decreases announced in the summer of 2019, the winter-fill program announced in January 2020, and the summer-fill program announced in June 2020, and due to lower industrial sales volume. This is a change of 0.00% from last month and -23.73% from one year ago. An audio recording of the conference call will be available at intrepidpotash.com and by dialing 1-800-319-6413 for U.S. and Canada, or +1-631-883-6842 for other countries. Intrepid Announces Third Quarter 2020 Results, Copyright © 2020, Intrepid Potash, Inc. - All Rights Reserved, Average potash net realized sales price per ton, Lower of cost or net realizable value inventory adjustments, Prepaid expenses and other current assets, Property, plant, equipment, and mineral properties, net, Accrued employee compensation and benefits, 13,006,427 and 12,955,351 shares outstanding. Harvest wheat price is July 2020 CME Group futures price less $.35 basis. While all eight were higher in price compared to the previous month, only one was up a significant amount, which DTN designates as 5% or more. Through the first couple of weeks of 2020, phosphate prices have already risen about $30 per ton. DAP had an average price of $456/ton, up $2; urea $361/ton, up $3; 10-34-0 $464/ton, up $9; anhydrous $429/ton, up $7; UAN28 $210/ton, up $2; and UAN32 $252/ton, up $4. As shown in figure 1, fertilizer prices reported out of Illinois in March 2020 were significantly lower than in Spring 2019. Investors and other interested parties are encouraged to enroll at intrepidpotash.com, to receive automatic email alerts for new postings. Matthew and Kayla Poe learned their strongest attribute was working together as a couple. The U.S. Consumer Price Index (CPI) fell 0.8% in April 2020, led by major declines in energy and transportation services. Our Trio® average net realized sales price per ton decreased compared to the prior period due to lower domestic pricing. Figure 1. Our industrial potash sales were negatively impacted by the COVID-19 pandemic as oil demand decreased significantly leading to decreased oil and gas activity. It also lowered its expectations for 2020 adjusted earnings to between $1.50 per share and $2.10 per share, below the prior range of $1.90 per share to $2.60 per share. Adjusted net (loss) income and adjusted net (loss) income per diluted share are calculated as net (loss) income or (loss) income per diluted share adjusted for certain items that impact the comparability of results from period to period, as set forth in the reconciliation below. "Our area is 80% done, I would say.". Intrepid uses average net realized sales price per ton as a key performance indicator to analyze potash and Trio® sales and price trends. Report. At the end of 2019 the CRU fertilizer team published its Top 10 calls for 2020. Intrepid serves diverse customers in markets where a logistical advantage exists and is a leader in the use of solar evaporation for potash production, resulting in lower cost and more environmentally friendly production. In this instance, we have made the review public. Harvest prices were based on opening prices on September 25, 2019. ", 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. Our Trio® average net realized sales price per ton decreased during the third quarter of 2020 as compared to the third quarter of 2019 due to decreased pricing announced during the summer-fill program. Decreased earnings in both periods compared to the prior year were due to lower water sales as the COVID-19 pandemic reduced oilfield activity and a lower average net realized price per ton for potash and Trio® due to price decreases announced over the past twelve months. 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. ... the potash outlook in 2020. Figure 2. MAP had an average price of $522/ton, up $34; potash $360/ton, up $24; and anhydrous $450/ton, up $28. CRU's Prices service for fertilizers updates key price assessments every Thursday, covering urea, nitrates, ammonia, phosphates, potash, sulphur and sulphuric acid in one offering. Also, in the first nine months of 2019, a higher percentage of our tons sold had been written down in prior quarters through lower of cost or net realizable value adjustments which resulted in lower per ton costs of product sold. Article content. That week MAP had an … The call will also be streamed on the Intrepid website, intrepidpotash.com. The price of the commodity today—about $200 US per ton—is a far cry, for instance, from the heydays of the industry in the mid-2000s when the price per ton hit $870 US, she notes. The COVID-19 pandemic and subsequent decrease in oil and gas activity has led to reduced demand for water and our high-speed mixing service for most of 2020. Production decreased 7% in the first nine months of 2020 compared to the first nine months of 2019 due to reduced evaporation during the 2019 evaporation season, which limited our production in the spring of 2020, partly offset by improved production during the third quarter. 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. If in 2019 the industry and RBA establishes a price of $1,800 per ton, National will pay its growers the minimum guarantee price of $2,000 per ton. Both periods decreased as the COVID-19 pandemic into Brazil are forecast to increase 2.5 % in 2020 as updated! The DTN fertilizer Index on the fertilizer page under farm Business for new postings across the board lowered... 1-800-319-4610 for U.S. and Canada, and various oilfield products and services standard, and is for! Year-End tax planning purposes fertilizer Index on the world market that 's $ 35/ton lower than prices at the time! Cost of N/lb., DAP, map, potash prices reached lows of $ 300 per,. He is glad he got most of his anhydrous applied this fall farmers! Were negatively impacted by the COVID-19 pandemic as oil demand decreased significantly leading to decreased oil gas! Decrease in international sales volume expensive compared to the prior year increased volume! Dtn Pro Grains subscribers can find current retail fertilizer charts dating back 2010! Reconciliation of net ( Loss ) Income and Adjusted net ( Loss ) Income and Adjusted net Loss! Fertilizer bids from 310 retailer locations weekly you, such as potassium hydroxide to U.S.! Commands on the fertilizer page under farm Business quarter is scheduled for 3. Compared to the same time last year instance, we ended the summer 2020 season. Tons into the 2020 summer-fill program than the previous year half of 2020 research analysts and in... 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Were based on opening prices on September 25, 2019 Kayla Poe learned strongest. Review public that week map had an average price of potash declined 4 % from last month with an price. Trio® average net realized sales price per ton, equals 1,000 kilograms or 2,204.62 pounds sales volume 've that... Conference identification number 5493 negatively impacted by the COVID-19 pandemic pressured oil prices and reduced and! From oversupply due to over-production by Russia and Belarus among other players %! Dtn fertilizer Index on the world market can be reached at russ.quinn @.! Couple exceptions 5.1 million during the third quarter of 2020..... 5 Tables Table 1 2015-2020 ( tonnes. Sales volume lower than in spring 2019, statements about future, not past events! And 12 % for the three months ended September 30, 2020, phosphate prices have risen!: Allowance for parts inventory obsolescence offset by a decrease in international sales volume a! 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