Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Intrepid Potash (NYSE: IPI) is trading 10% higher today, after a government report revealed weak American corn crops this year.

So What: Intrepid is hardly the only fertilizer expert getting a boost from this report; fellow potash miner Mosaic (NYSE: MOS) rose 7%, and nitrogen specialist Terra Nitrogen (NYSE: TNH) saw a 3.5% jump overnight. A disappointing harvest is obviously good news for the entire fertilizer industry.

Now What: This sudden pop is great for current Intrepid shareholders, but you might do better elsewhere if you're new to the fertilizer industry. Intrepid is far from a best-of-breed competitor, because of shrinking sales, an already expensive stock by nearly every metric, and a lack of dividends. Many competitors sport very strong yields, and Terra Nitrogen and Mosaic in particular both look like stronger choices in the fertilizer field today.

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