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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (48199)	7/3/2012 1:04:05 PM
From: johnlw	Read Replies (1) \| Respond to of 70549

They wouldn't be adding inputs to this years crop, looking ahead...... Potash Corp, Agrium hit highs as corn crop shrivels 3 hours ago - Reuters Potash Corp, Agrium hit highs as corn crop shrivels* Smaller corn crop lifts corn, fertilizer prices * Agrium hits 11-month high; Potash to 3-month top * Analyst boosts POT, AGU price targets By Rod Nickel July 3 (Reuters) - Shares of Potash Corporation of Saskatchewan and Agrium Inc, two leading North American producers of the crop nutrient potash, climbed to multi-month highs on Tuesday, as the U.S. corn crop shriveled in relentless heat. Hot, dry conditions in the U.S. Midwest, expected to last throughout the week, are reducing corn yield estimates and driving up price. Fertilizer prices are linked to values of corn because farmers tend to apply more nutrients to soil when crop prices are strong. The U.S. Department of Agriculture (USDA) on Monday slashed its condition rating for U.S. corn to 48 percent good-to-excellent, down 8 percentage points from a week earlier. It pegged the soybean crop at 45 percent good-to-excellent, compared with 53 percent a week ago. (For full story: ) The surprisingly acute damage pushed Chicago benchmark corn futures on Tuesday to a 10-month high. Potash Corp shares rose 2.6 percent in New York to US$45.13 in morning trading, touching a three-month high. Agrium's stock gained 3.9 percent in New York to US$92.21, touching an 11-month high. "Our analysis suggests that if corn and soybean yields drop to last year's relatively poor levels, global grain stocks-to-use could drop to 66 days, which would be the third-lowest inventory level in the last decade," National Bank Financial analyst Robert Winslow wrote in a note to clients, describing a key industry measure of supply to demand. "Under such a scenario, grain prices could, all-else-equal, return to the high levels of mid-2011 when ag equities were driven to recent cyclic peaks." Winslow raised his price target for Potash Corp's New York stock to US$47.50 from US$35.50 and increased Agrium's New York target to US$97.50 from US$71. He upgraded both stocks to "sector perform" from "underperform." Other fertilizer companies also rose with support from rising corn, a heavy fertilizer user. Mosaic Co shares gained 1.1 percent to US$55.49, while CF Industries Holdings Inc gained 2.5 percent to US$198.18. (Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Maureen Bavdek)

To: Cogito Ergo Sum who wrote (48199)	7/16/2012 10:06:41 PM
From: 2MAR$	Respond to of 70549

This downgrade came in on june 15th .....POT Dahlman Rose cuts its price target (to $38 from $41) and earnings estimates while maintaining a Sell rating for Potash, citing the likelihood of sluggish potash export markets for the rest of the year and above normal industry inventories contributing to weaker pricing. The firm is bearish on the sector, also with Sell ratings for CF, UAN and IPI They nailed the bottom , lol....see how MOS does tomorrow , AGU CF TNH all have been good too & green today , they didnt see this draught coming <g