When we last checked on the potash market, one producer had finally blinked, cutting prices for the first time since 2006. Today, PotashCorp
Following its 2-million-metric-ton curtailment in late 2008, the market leader is now reducing its potash supply by a further 1.5 million tons.
In PotashCorp's recent market analysis report -- an easily digested quarterly slideshow that joins Monsanto
PotashCorp continues to lead by example in its quest to hold the line and match supply to demand. If the company is correct in its analysis, this approach may bear fruit as soon as the back half of 2009, as inventories become depleted across the supply chain.
Given the current supply/demand imbalance, it might seem odd to read that BHP Billiton
If PotashCorp's market analysis is to be believed, a new mine wouldn't be cash flow positive for at least seven years. That's a key piece of the thesis with regard to the competitive advantage held by PotashCorp and Mosaic
To whatever degree there was a fertilizer bubble last year -- I'm still not sure about that one -- the euphoria has passed. If folks like BHP and Agrium