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NUTRIEN'S INTERIM CEO PROVIDES UPDATES ON AG SUPPLY MARKETS
by Stephen Nakrosis

Ken Seitz, the interim president and chief executive of Nutrien Ltd., said Monday that global agriculture and crop input markets "are being impacted by a number of unprecedented supply disruptions that have contributed to higher commodity prices and escalated concerns for global food security."

He also said Nutrien is "safely increasing potash production" and using its supply chain to provide customers with the crop and services. Nutrien expects to generate higher earnings and cash flows in 2022, he added.

Agricultural Outlook

Nutrien's management said the conflict in Ukraine "has led to further tightening of crop export supplies and heightened global food security concerns."

Global grain and oilseed inventories were well below historical average levels entering 2022, and "the Russia and Ukraine conflict has led to further tightening of crop export supplies and heightened global food security concerns," management said.

The USDA expects combined planted acreage of U.S. corn, soybeans and cotton could set a record in 2022, according to Nutrien.

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