Just caught that Nutrien got the green light from TSX to buy back up to 5% of their shares. They're looking at repurchasing around 24 million shares starting March 3rd. Honestly, it's smart capital allocation - they're basically saying the stock's undervalued right now and returning cash to shareholders makes sense.

What caught my eye is their 2026 guidance though. Nutrien's projecting adjusted EBITDA between $1.75-$1.95 billion, which is solid growth. They're expecting potash volumes around 14.1-14.8 million tons and nitrogen at 9.2-9.7 million tons. The fertilizer space seems to be holding up better than I expected given everything going on.

Competitors are doing their thing too - Mosaic's looking at decent potash demand for Q1, CF Industries is bullish on nitrogen outlook with India and Brazil still driving urea imports. Even Intrepid Potash just saw a 15% jump in volumes. The demand fundamentals look pretty healthy across the board.

The buyback timing is interesting though. Nutrien missed earnings but beat on sales, and they're giving positive guidance. Feels like management's confident about where things are headed. Anyone else watching the fertilizer names or is this just a sleepy sector nobody talks about?