Harvest soybean price is November 2020 CME Group futures price less $0.35 basis. 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. These prices will change. 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. 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%. Mineral Commodity Summaries, January 2020 . Sales for the nine months ended September 30, 2020 decreased compared to the same period in 2019, due to a 8% decrease in sales volume, an 12% decrease in our average net realized sales price per ton, and a $3.7 million decrease in byproduct sales. We believe the reverse stock split was in the best interests of us and our stockholders by allowing us more flexibility to, among other things, potentially improve the marketability and liquidity of our common stock and maintain compliance with the listing requirements of the NYSE. 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. Potash prices reached lows of $300 per ton in 2016. In addition to internationally traded fertilizer prices, we provide extensive US inland fertilizer prices and … Registration is FREE. Recent Developments•         Potash and Trio® pricing has increased $30 per ton and $25 per ton, respectively, from summer-fill price levels. Sales volumes decreased as we continued to sell fewer tons into international markets as we focus on the higher priced domestic market. Intrepid also provides water, magnesium chloride, brine, and various oilfield products and services. Data Provided by Refinitiv. We also sold fewer tons into the industrial market. All proposals voted on at the special meeting were approved. 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. Finally, current DAP prices are nearly $400 per ton, the lowest prices observed since 2010. Retail fertilizer charts dating back to 2010 are available in the DTN fertilizer segment. 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. All information in this document speaks as of the date of this release. The remaining six fertilizers were just slightly higher in price compared to prior month. The Outlook Potash news and market information products from ICIS. 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. This is a change of 0.00% from last month and -23.73% from one year ago. 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 Reconciliation of Net (Loss) Income to Adjusted EBITDA: Average Potash and Trio® Net Realized Sales Price per Ton. This document contains forward-looking statements - that is, statements about future, not past, events. We continue to thoughtfully manage our balance sheet due to the considerable uncertainty still surrounding the COVID-19 pandemic and remain optimistic about the potential of our business. In addition, Intrepid produces a specialty fertilizer, Trio®, which delivers three key nutrients, potassium, magnesium, and sulfate, in a single particle. Most recently, price have been closer to $400 per ton. Retail fertilizer prices continue to be mostly lower in price from a year ago but there are a couple exceptions. Only briefly, in late 2017, did prices fall to $400 per ton. DAP is 2% higher while MAP is 10% higher compared to last year. As shown in figure 1, fertilizer prices reported out of Illinois in March 2020 were significantly lower than in Spring 2019. "Operators are focusing their attention on the strong underlying resource in the Delaware Basin and are forecasting continued improvements in demand over the coming months, which we believe will benefit our bottom line. We expect the economic disruptions caused by the COVID-19 pandemic will continue to have a material effect on revenue growth and overall profitability, particularly for our oilfield solutions segment, in future reporting periods. MAP was over the $500/ton level for the first time since the second week of August 2019. Not all features of DTN / The Progressive Farmer may function as expected. Figure 1. MAP had an average price of $522/ton, up $34; potash $360/ton, up $24; and anhydrous $450/ton, up $28. That week MAP had an average price of $503/ton. The charts included cost of N/lb., DAP, MAP, potash, urea, 10-34-0, anhydrous, UAN28 and UAN32. Sales decreased 12% for the three months ended September 30, 2020, as compared to the same period in 2019. See the non-GAAP reconciliations set forth later in this press release for additional information. Harvest soybean price is November 2020 CME Group futures price less $0.35 basis. MAP was up 5% from last month with an average price of $510/ton. 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. 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. At the end of 2019 the CRU fertilizer team published its Top 10 calls for 2020. Commodity Markets Review. 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 … DTN Pro Grains subscribers can find current retail fertilizer price in the DTN Fertilizer Index on the Fertilizer page under Farm Business. Harvest prices were based on opening prices on September 25, 2019. This will lead to lower per-ton production costs in the coming quarters and when considered along with the recent price increases, positions us to generate solid cash flow during the spring season. He did apply more than he had planned this fall, thanks to higher corn prices and to cover some applications they've skipped in recent years. Alibaba.com offers 1,747 sulphate of potash price products. But amid shaky consumer confidence in the economy, there was a bright spot for U.S. agriculture: The CPI’s food index grew 1.5% higher, with the largest increases in cereals and bakery products ever recorded in April. 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. Reported Illinois Fertilizer Prices, April-May 2019 and March 2020. MAP had an average price of $522/ton, up $34; potash $360/ton, up $24; and anhydrous $450/ton, up $28. 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. 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. And just last week, we announced an additional $15 to $20 increase, bringing our posted price up to $30 to $35 per ton from the summer fill price levels, and clearly calling a … 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. 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. 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. Rahm said U.S. demand is expected to recover in 2019-20, driven by a rebound in planted acreage and improving farm economics. A wide variety of sulphate of potash price options are available to you, such as classification, grade standard, and state. In 2007, the price of potash amounted to 162.19 U.S. dollars per ton free on board. Reported Illinois Fertilizer Prices, April-May 2019 and March 2020. A wide variety of price of potash per ton options are available to you, such as potassium hydroxide. "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. Most recently, price have been closer to $400 per ton. 1 Adjusted net (loss) income, adjusted earnings before interest, taxes, depreciation, and amortization (or adjusted EBITDA) and average net realized sales price per ton are non-GAAP financial measures. “The continued expansion of soybean and safrinha corn areas and profitable farm economics are the key demand drivers in 2020-21,” Rahm said. All other trademarks are the properties of their respective owners. (c) Copyright 2020 DTN, LLC. Fertilizer for the next growing season is among the items many farmers buy. Data Source: USDA AMS. 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. 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. 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. 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. "We applied more anhydrous than normal," Flikkema told DTN. 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. Harvest wheat price is July 2020 CME Group futures price less $.35 basis. The remaining five fertilizers were all just slightly higher in price compared to the prior month. Our feed sales were up 28% compared to the prior year. The August and September 2018 levels are below 2008 to 2018 average of $528 per ton in August and $535 per ton in September. 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. World consumption of potash was estimated to have remained about the same as in 2018 at 43 million tons, owing to ICL will supply an aggregate 410,000 metric tons of potash, with mutual options for an additional 30,000 metric tons, to be supplied through December 2020. Our year-to-date net loss was further impacted by the first quarter accrual of a $10 million settlement payment agreed upon at our March settlement hearing relating to the Mosaic litigation and partially offset by a first quarter gain of $4.7 million on the restricted sale of 320 acres of fee land at the Intrepid South property. Change in Reported Illinois Fertilizer Prices, March 2020 compared to April-May 2019. Many investors use the published research reports of these professional research analysts and others in making investment decisions. 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. Our industrial potash sales were negatively impacted by the COVID-19 pandemic as oil demand decreased significantly leading to decreased oil and gas activity. 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. Three fertilizers were up a significant amount, which DTN designates as 5% or more. All rights reserved. Anticipated nutrient balances in 2020 ..... 5 Tables Table 1. Putting a value on agricultural land is both art and science, especially where sales prices remain private. Cost of goods sold decreased 12%, or $0.5 million, in the third quarter of 2020 compared to the prior year, primarily a result of reduced water sales, offset by increased per barrel transfer expense. "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. The average retail price of potash declined 4% from last month to $338/ton. That's $35/ton lower than the 5-year average price and 12% lower than prices at the same time last year. Only briefly, in late 2017, did prices fall 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. 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. 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. Total world nutrient capacity of ammonia, phosphoric acid and potash, 2015-2020 (thousand tonnes)..... 2 Table 2. But whether the price per … Most recently, price have been closer to $400 per ton. 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. The end of the year is when many farmers will buy inputs for year-end tax planning purposes. Year-to-date magnesium chloride sales were similar to the prior year. POTASH . 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). The dial-in number is 1-800-319-4610 for U.S. and Canada, and is +1-631-891-4304 for other countries. "So we may temper our spreading for this spring.". 3Harvest corn price is December 2020 CME Group futures price less $0.25 basis. Reconciliation of Sales to Average Net Realized Sales Price per Ton: (1) Depreciation, depletion, and amortization incurred for potash and Trio® excludes depreciation, depletion, and amortization amounts absorbed in or relieved from inventory. On August 10, 2020, the Board of Directors approved an amendment to our Certificate of Incorporation to effect a reverse stock split of our common stock, par value $0.001 per share, by a ratio of one-for-ten. As of September 30, 2020, we had $9.3 million in cash and cash equivalents. 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. © 2020 DTN, all rights reserved. Our Series B Notes were unchanged and still mature in April 2023. 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®. Unless expressly stated otherwise or the context otherwise requires, references to tons in this press release refer to short tons. 3Harvest corn price is December 2020 CME Group futures price less $0.25 basis. DTN collects roughly 1,700 retail fertilizer bids from 310 retailer locations weekly. Flikkema said he is glad he got most of his anhydrous applied this fall. Were similar to ammonia and DAP, potash prices are potash price per ton 2020 $ 400 per ton since 2010 contains forward-looking -! ) Income to net cash provided by operating activities: Allowance for parts inventory obsolescence for... Risen about $ 30 per ton of K2O, average, all products, f.o.b special meeting approved. 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