Rochester,NY 7/13/2009 5:59:52 PM
POT - Potash recently Broadcast a new conformity concerning potash consignment - Sourced WhisperFromWallStreet.com
POTASH CP SASKATCHEW
POTASH CP SASKATCHEW,POT
COMPANY NEWS
Potash of Saskatchewan recently announced an agreement to supply Asian customers with potash shipments through the end of the year. According to the company, prices were in the $700 per ton range, in line with a supply contract its export consortium Canpotex inked last month. Today, however, reports emerged that a Russian company Silvinit agreed to supply Indian customers with potash at a price of $460 per tonne, a more than -34% discount to Potash of Saskatchewan's deal announced yesterday. RBC Capital expected the deal to be priced at $500 per tonne, and noted that current spot prices for the commodity are $750 per tonne. With the Russian deal fueling concerns that potash priceing won't hold up, fertilizer stocks are down sharply today, some by more than -5%.
COMPANY INFORMATION
Potash Corporation of Saskatchewan Inc. engages in the production and sale of fertilizers, and related industrial and feed products in North America. The company manufactures and sells solid and liquid phosphate fertilizers; animal feed supplements; and industrial acid, which is used in food products and industrial processes. It also produces nitrogen fertilizers, as well as nitrogen feed and industrial products, including ammonia, urea, nitrogen solutions, ammonium nitrate, and nitric acid.
After Hours: 0.00 N/A (N/A) 8:00PM ET
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