Strong Demand and Improved Pricing Boost PotashCorp's First-Quarter Earnings

Potash Corp. of Saskatchewan (PotashCorp) reported first-quarter earnings of $732 million (84 cts/share), up 71% from the year-ago period on strong demand and improved pricing. Prices for many key crop commodities increased during the quarter, fueled by declining inventories and growing concern that farmers will be challenged to keep pace with rising demand, the company says. However, higher prices did little to temper demand for crops used for food, fiber, fuel and animal feed which kept global grain inventories at extremely low levels, PotashCorp says.  ...

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