Next month Bullish for fertilizer: https://www.reuters.com/article/2012/01/12/us-fertilizer-shares-idUSTRE80B1AA20120112
The drop for fertilizer stocks may be short-lived, Gulley said.
"Everyone in the industry agrees with us that the volatility in (USDA) numbers is becoming a bit disturbing," he said, adding that he expects next month's USDA report to be bullish, given ongoing concerns about dry farming areas of South America.
Dryness in Argentina, which threatens corn and soybean crops, has pumped up grains during the past few weeks.
"While we've diverted our eyes for one or two days to (USDA), all eyes are still on South America and will be for a couple more weeks," Gulley said.