Favorable weather conditions allowed farmers in Rentech Nitrogen’s core market area of the Mid Corn Belt to apply spring ammonia earlier than is typical. This shifted meaningful volumes of ammonia deliveries into the first quarter that had been anticipated to occur in the second quarter of 2012. Robust projected corn plantings and tight inventories supported strong product pricing.In the first quarter of 2012, Rentech Nitrogen achieved average prices for ammonia and UAN that were higher by 11% and 59%, respectively, compared to the same period last year. The higher product prices were a result of strong product demand during the first quarter, coupled with the fact that the partnership had secured a robust book of forward sales for spring delivery when prices were at a peak in September and October, 2011.
Rentech Nitrogen Announces Results For The First Quarter Of 2012; Issues New Guidance For 2012
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.