Due to high ammonia prices, farmers are shifting from corn to soybeans. This is to use less of nitrogen. However, they both still need potash! Conclusion: when natural gas rises, ammonia rises and potash will rise.
Corn uses an N-P-K ratio of 120-80-80.
There is still a huge arbitrage opportunity between U.S. natural gas and Europe TTF Dutch natural gas.
I noticed that the gold deposits have gone back up. The FRBNY is lying about their numbers.
There is an optimal fertilizer yield that will generate the highest crop produce. If fertilizer prices rise at constant food prices, farmers will use less fertilizer and therefore the crop yield will decline.
Aluminum, copper, zinc and nickel will be in severe deficit. Russia is just a bonus.
Possible strike at largest potash producer.
Nutrien is planning to increase potash production by 1 million tonnes. However, at the same time Uralkali is suspending its potash production of 12 million tonnes. Do the math.
The Dow Jones is entering a triple down cycle.
It coincides with a crash in the Kilian Zhou economic activity.
Yardeni lowered his forecast for the S&P for 2022 from 4800 to 4000, lowered for 2023 from 5200 to 5000 and gave a forecast for 2024 of 5600.
Sprott Inc new filing.
Sprott bought: New Gold, Skeena Resources, Gold Fields, Gold Royalty, Freeport, Rio Tinto
Sprott sold: Euro, Eldorado Gold, Kinross Gold, Kirkland Lake Gold, Barrick Gold, Pan American Silver
A reminder what an oil spike will do to GDP.
