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by: Trader Mark posted on: July 17, 2008 | about stocks: Another very busy day.... Lost in yesterday's excitement was news that Canpotex [remember - that is an alliance of Potash ( . The Russians have joined as well. Notice a trend I hope? Canpotex, the export marketing consortium for Canadian potash miners, has raised its spot price for some Asian buyers to $1,000 per tonne, an analyst at J.P. Morgan said on Wednesday. The new price is up 21 percent from current delivered values, and will take effect in the fourth quarter, David Silver wrote in a note to clients, quoting fertilizer industry consultant FMB Group Ltd. "We believe the rapid rise in offshore potash prices will put increase pressure on importers in India and China ahead of their upcoming negotiations for new supply contracts later this year," Silver wrote.... [read full story]
