Potash Market Rebound in ‘Full Force’ as Global Demand Improves
- Lower prices, inventories led to more buying, company says
- U.S. Corn Belt spot prices have gained 23% since July low
Potash is stored in a warehouse at the Potash Corp. of Saskatchewan Lanigan mine in Lanigan, Sasketchewan, Canada, on Aug. 31, 2010.
Photographer: Geoff Howe/BloombergThis article is for subscribers only.
Potash prices are recovering after a decade of weakness, lifting the prospects of a turnaround in fortunes for fertilizer companies following a slump in farm spending.
Potash Corp. of Saskatchewan Inc., the world’s second-biggest producer, boosted its full-year earnings forecast on Thursday and said strong demand will continue for the rest of the year as North American farmers seek to replenish soil nutrients after record harvests. Chinese potash shipments are expected to increased in 2017, it added.