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C-MACC Sunday Thematic & Weekly Recap 90
Pumping Up The Pumpkins – Is Farm Inflation A Horror Story?
- Crop price strength in 2021 – due to demand and logistics – is well documented, but attention is increasingly shifting to farm costs, notably fertilizer.
- Urea and Ammonia prices have jumped, in part with natural gas, by enough to shift farmer planting intentions for 2022, possibly limiting US corn production.
- Higher crop prices mean higher input costs for those making renewable fuels from corn, soy, canola, etc., and could potentially delay projects not yet approved.
- As COP26 will likely emphasize, all regions lack sufficient concrete steps to address fossil fuel-based emissions – so renewable projects cannot afford delays.
- Otherwise, we focus on relative ethylene economics, the activist pressure on Shell, and the added woe for polymer producers (to CO2) – inadequate recycling.
Last week we discussed 27 Chemicals and related products and 114 Companies.
See PDF below for all charts, tables and diagrams