Wednesday, October 20, 2010

Holy Manure!

Fertilizer bonds were churned in to a frenzy in an differently ho-hum trade event Friday interjection to a brighter foresee from one big name and an strong fortitude to a four-way takeover battle.Potash Corp. of Saskatchewan ( POT - news - people ) lifted the first-quarter superintendence on increasing demand. According to Chief Executive Bill Doyle, "Strong rancher returns, a burned out distributor tube and the agronomic need to reinstate dirt nutrients have kick-started a potash miscarry from 2009 lows."emailprintreprintnewslettercommentssharedel.icio.usDigg It!yahooFacebookTwitterRedditrssforbes:http://www.forbes.com/2010/03/12/potash-mosaic-terra-markets-equities-fertilizers.html?partner=yahoobuzzWith direct rising, Saskatchewan-based Potash pronounced it right away expects to consequence in in between $1.30 and $1.50 per share in the primary entertain of 2010, up from the formerly estimated range of 70 cents to $1 per share, that the association voiced on Jan 28.Shares of Potash climbed to a 52-week high of $126.98, prior to slipping behind to $125.56 with a benefit of $8.65, or 7.4% on the day. In midday trading, some-more than 12.8 million shares had altered hands, twice the normal volume.Credit Suisse ( CS - news - people ) researcher Elaine Yip says Potash has seen "improving direct in multiform regions," quite Brazil, as "distributor restocking has driven plain volumes in the primary quarter."Investors took increasing direct for one potash builder to meant identical gains for the competitors, promulgation shares of Mosaic ( MOS - news - people ) up $4.29, or 7.2%, to $64.21; Potash One jumped 9 cents, or 2.9%, to $3.17; and the Market Vectors Agribusiness ETF ( MOO - news - people ) gained 94 cents, or 2.1% to $45.63.,,2010/03/12/potash-mosaic-terra-markets-equities-fertilizers.htmlMeanwhile, shares of Agrium ( AGU - news - people ) gained $5.42, or 8.1%, to $72.18 on the increasing potash direct news, and reports that the association forsaken the bid for CF Industries ( CF - news - people ). Agrium honeyed the suggest multiform times after the primary incursion a year ago, but CF strong on the own bid for opposition Terra Industries ( TRA - news - people ). That understanding was difficult by an agreement in in between Terra and Yara International, but Yara pronounced this week it would not lift the bid to compare CFs $4.7 billion suggest for Terra. The total association will stick on the ranks of the worlds largest manure makers. (See: U.S. Stocks Regroup After Mar Higher)
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