Bottom line Agriculture boom early stages, fertilizer boom early stages ...
Cotton and sugar yet to take out all time highs. Meat prices do not account for the cost of production so they have much higher to go, probably double to triple, wouldn't surprise if they quadrupled. Wheat and rice's new highs this year will look cheap when oil reaches US$200/barrel.
REMEMBER ONE THING! Grain prices will not come down because of expensive fertilizer. If farmers are skimping, this ultimately feeds into higher grain prices and hence the demand base for fertilizer kicks in again.
fertilizer supply tight for next 4 to 6 years, page-38
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