Fertilizer outlook rises on supply, crop prices - Canada Agrium

04 August 2010 18:26  [Source: ICIS news]

HOUSTON (ICIS)--The second-half outlook for fertilizers is being strengthened by low inventories and higher crop prices, Canadian fertilizer retailer Agrium said on Wednesday.

“Higher prices received by growers for corn and wheat will support the planting of more corn and wheat acres in the next crop year,” Alberta-based Agrium president and chief executive Mike Wilson said in an earnings conference call.

Agrium, like other North American fertilizer sellers, is in the midst of a major restocking effort following a spring application season that drained the supply system, Wilson said.

Agrium has forward-sold 75% of its expected potash and 80% of its expected nitrogen fertilizer at prices that reflect the market over the past 60-90 days, Wilson said.

($1 = €0.76)

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By: Frank Zaworski
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