Snippets from AGRIUM INCs thoughts on the yr ahead:
AGRIUM INC Q4 earnings
"We look forward to a significant recovery in the crop input markets in 2010, and we believe our diversity across the value chain will allow us to fully capture the revitalization of the sector."
"We anticipate an improvement in phosphate margins in the first half of 2010, due to significant increase in benchmark prices in late ?09 and early 2010."
"Looking to 2010, we see continued improvement in the seed market, due to the trend in adoption of new seed varieties and a stronger crop protection market compared to last year, due to increased usage of glyphosates, crop health products and increased weed resistance resulting in expanded use of additional crop protection products.
The combination of record U.S. corn yields, reduced crop nutrient applications over the past year, particularly given the shortened fall season, as well as higher corn acreage is expected to result in strong demand for all three nutrients in the coming spring."
"Phosphate prices have increased 50% since mid-November, based on a strong increase in global import demand. The tight supply situation looks like it will continue through at least the end of the spring season."
"As a result of the year and a half of lower than normal nutrient application, above average yields, and the late harvest limiting fall applications, we believe growers recognize North American soil nutrient levels need be replenished and will respond with increased application rates in the first half of 2010.
As a result of these factors, we anticipate 2010 to be an excellent year for agricultural products and services."
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