The Five Stages of Fertilizer Grief

1️⃣ Shock and War, Disruption and Natural Disaster.  Prices jump.

2️⃣ Liquidity evaporates.  Prices jump.

3️⃣ Producers stop offering, Traders pull offers.  Dealers are short product.  Prices jump.

4️⃣ Buyers start to panic.  Second-order effects.  Prices jump.

5️⃣ Acceptance of new price levels.  Prices jump around.

#Fertilizer #HouseofPain