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POT

Although equity markets have been under pressure for some time now thanks to weak levels of growth and high unemployment, some industries have been surging higher and seem to be well on the way to recovery. With a weakening dollar and bulging world populations, the agribusiness sector has been in focus in recent weeks thanks to the wheat crisis in Europe and declining corn yields across much of North America. This trend reversal, which comes after almost two years of weakness in commodity prices, has spurred one of the world’s largest mining companies, BHP Billiton (BHP), to make a nearly $40 billion offer for the world’s largest potash maker, the Potash Corp of Saskatchewan (POT). [click to continue…]

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Potash Boosts MOO, PAGG

by Eric Dutram on March 12, 2010

Agribusiness ETFs got a boost in Friday trading as good news from Potash Corporation of Saskatchewan (POT) helped to lift the sector higher as the week came to a close. The Canadian producer of fertilizer and feed significantly raised its earnings guidance range to $1.30 to $1.50 a share, up from an earlier forecast of 70 cents to $1 a share. The average estimate of 23 analysts in a Bloomberg survey was 93 cents. This bullish outlook boosted the hopes of the industry and sent POT soaring higher by nearly 8%. “While we know that growth does not follow a straight upward line, we believe the increase in potash volumes this quarter represents the beginning of a return to long-term growth in demand,” said Potash president and CEO Bill Doyle, suggesting that the worst may finally be behind the fertilizer and agribusiness industry at large. [click to continue…]

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