Latest news with #S&PCapital
Miami Herald
6 days ago
- Business
- Miami Herald
Tariffs on Russia Could Hurt Wary U.S. Farmers
American farmers are bracing for another blow should President Donald Trump proceed with his plan to impose steep tariffs on goods imported from Russia, raising the price of a key ingredient in crop production. The United States imported $1.3 billion worth of fertilizer -- mostly in the form of urea and urea ammonium nitrate -- from Russia last year and is on a pace to bring in even more this year. Farmers of row crops like corn and soybeans, the biggest users of fertilizer, are already dealing with low sales prices and cannot afford rising input costs or a slowdown in supply. Trump threatened this week to levy a 100% tariff against Russia, as well as high tariffs against countries that do business with Russia, if there isn't a ceasefire in the war in Ukraine within 50 days. It was not clear whether fertilizer would be exempted or not, or whether Russia would face tariffs, additional sanctions or a combination of the two. 'We already know these companies that are either importing fertilizer or otherwise in the stream, they are building in the potential for disaster into the cost already,' Rob Larew, president of the National Farmers Union, said in an interview. He said he worried that rising costs would force farmers to give up farming and sell their land. Most farmers use fertilizers that contain one of three main elements: phosphorus, potassium and nitrogen. Russian exports of urea and urea ammonium nitrate supply nitrogen, while potash is a source of potassium. Urea ammonium nitrate imports are under the most threat, said Allan Pickett, the head of fertilizer analysis at S&P Capital's agribusiness unit, since the United States imports 46% of that type of compound from Russia. Few countries make ammonium nitrate because of its potential for danger and misuse. 'It is a wonderful fertilizer, and it is also quite good at exploding,' he said. Many countries restrict its sale or otherwise 'get antsy' with who produces it, Pickett said. If the United States no longer imports urea from Russia, there could be shortages. Should American fertilizer companies produce more, farmers would have to agree to pay more so the companies had an incentive to switch to making it. Anybody can make urea-based fertilizers, but they require a great deal of energy. Russia's vast stores of natural gas make it more cost-effective to develop there. Fertilizer accounts for about 15% of an average farmer's input costs, said Veronica Nigh, the senior economist at the Fertilizer Institute, a trade group. Fertilizer prices were steady for several years before 2020, she said, but they have been on the rise since then. Costs went up during the pandemic when supply chains were disrupted. The United States imposed sanctions on Belarus, a major fertilizer producer, over human rights abuses. And while fertilizer was exempted from the sanctions on Russia, the war in Ukraine disrupted Russian shipping companies and has made some American businesses wary of dealing with suppliers from that country. More recently, Trump's uneven tariff policies, as well as conflicts in the Middle East, have slowed trade in fertilizer. In April and May, imports of nitrogen were down 22% from last year, and imports of potash were down 16%, Nigh said. 'The threat matters a lot, too,' she added. 'What we have seen in trade is the importers and exporters have been less excited about exporting to the U.S. market for fear the policy will change between the time they write the contract and make the sale.' But recent tariff volatility has actually caused an increase in fertilizer imports from Russia. While Trump has subjected most countries to a flat 10% tariff, Russia has been able to avoid that. Total imports of urea into the United States are down 18% this year, but imports of urea from Russia are up 34%, Nigh said. Total imports of all goods from Russia were up 23% during the first five months of 2025, according to the Census Bureau. The fertilizer situation isn't dire, analysts and economists said. The United States is largely self-sufficient in phosphorus, and with time it can overcome any shortages in urea or ammonium nitrate. The country does import more than 90% of its potash, and most of that comes from Canada. Prime Minister Mark Carney recently said, however, that there was little hope of Canada's avoiding U.S. tariffs, which could also apply to potash. Costs don't have to balloon for farmers to feel the pinch, as margins are lower. A bushel of corn is selling between $4 and $5, when a few years ago it was selling for more than $7. A bushel of soybeans sells for $10, compared with $16 a few years ago. The disparity between the prices that crop farmers receive and the input costs they pay is greater than it had been in years. Most farmers have a good idea of what the likely value of their crop is and work backward to determine what they can spend on inputs to make a profit. And most of them will still use the usual amount of nitrogen. But with their remaining money, they will buy whatever phosphorus and potassium they can, or perhaps skip a season and hope their soil already has enough. Maybe they will forgo buying a new tractor or making any repairs to equipment. 'There is an absolutely a direct correlation between the amount of nitrogen applied and absolutely potential yield of that crop,' said Josh Linville, vice president of fertilizer at StoneX, a brokerage firm. 'If you cut nitrogen, you cut the yield.' This article originally appeared in The New York Times. Copyright 2025
Yahoo
28-05-2025
- Business
- Yahoo
S&P Global Expands Collaboration with Databricks with the addition of S&P Capital IQ Pro datasets via Delta Sharing
Additional S&P Global datasets available via Databricks Delta Sharing include financials, estimates, filings, transcripts, transactions, sustainability and more NEW YORK, May 28, 2025 /PRNewswire/ -- S&P Global (NYSE: SPGI) announced today the addition of several S&P Capital IQ Pro datasets available in Databricks. Powered by Databricks Delta Sharing, this enhanced collaboration between S&P Global and Databricks, the data and AI company, allows users to directly access and query a wide array of additional S&P Global datasets, including financials, estimates, filings, transcripts, transactions, sustainability across investment management, risk, and competitive intelligence use cases — all without the need for data ingestion. Delta Sharing is Databricks' open-source protocol that enables customers to share live data across platforms, clouds and regions within an environment with strong data security and governance. With Delta Sharing, licensed users can directly query live S&P Global data without creating copies or managing complex pipelines. This greatly reduces data duplication and latency issues, allowing investment, risk, and strategy teams to always work with fresh data—all within their existing Databricks environment. "In today's dynamic market, it is essential that we meet our clients where they are," said Warren Breakstone, Head of Data & Research at S&P Global Market Intelligence. "Our expanded relationship with Databricks enables us to deliver more seamless access and efficient querying, empowering clients to make informed business decisions through comprehensive analysis and insights. We are excited to enhance the availability and reach of our data through Databricks and Delta Sharing, ultimately benefiting our customers and their decision-making processes." "As financial services demand for data intelligence grows, expanding on our collaboration with S&P Global bolsters our customers' ability to seamlessly, securely share data across platforms," said Junta Nakai, VP and Global Head of Financial Services at Databricks. "We are thrilled to be working with S&P Global to integrate a deep and unique set of insights from S&P Capital IQ Pro datasets into Databricks via Delta Sharing." S&P Global's collaboration with Databricks previously included the integration of its energy and commodities datasets from its Commodity Insights division in Databricks. The Market Intelligence division also collaborated with Databricks on its S&P Global Capital IQ Workbench, creating a collaborative analytics notebook environment for its users. S&P Global will continue to add additional datasets to Databricks Delta Sharing. View all the S&P Global datasets that are accessible via Delta Sharing on the S&P Global Marketplace and Databricks Marketplace. About S&P GlobalS&P Global (NYSE: SPGI) provides essential intelligence. We enable governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping our customers assess new investments to guiding them through sustainability and energy transition across supply chains, we unlock new opportunities, solve challenges and accelerate progress for the world. We are widely sought after by many of the world's leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help the world's leading organizations plan for tomorrow, today. For more information, visit Media Contact:Amanda OeyS&P Global Market IntelligenceP. +1 212-438-1904E. or View original content to download multimedia: SOURCE S&P Global
