potash inventories drop below 5 year average!

Let's have a look at the good news from potash market while we are making our own family fight inside.

Future looks very bright for ELM.
We want to see our sp over $10!
We wouldn't want to be sold out at $4-$5, would we!

Look at the news here!
What does this tell you for ELM's $350m market cap?
Isn't it nothing for that high grade resource?


Shrinking potash inventories are providing a clear signal that the market can bear another price increase.

Source: Potash Investing News.com - Click here

Potash inventories held by North American producers dropped by 183,000 tonnes in March, leaving inventories at 1.8 million tonnes, 26 percent below the five-year average.

Potash prices have been on the upswing since 2009, with wholesale potash prices topping $400 a tonne, excluding freight, last month in Vancouver. At a farmer level, potash prices have already hit $598 a tonne in the U.S.

Canpotex recently announced a price hike to Latin American and Asian customers, selling potash at $520 per metric tonne for delivery in May and June. Following their March price hike, German Potash Miner K+S Ag (ETR:SDF) said more price hikes are likely in the future. "After Easter we will provide new price guidance," said Chief Executive Norbert Steiner. K+S' March price hike was to $508 per tonne.

While high grains prices are a big reason potash producers can boost the price charged for the crop nutrient, this high demand is prompting mine expansions, and output increases on mines mothballed in the recession. Potash Corporation of Saskatchewan previously announced that they would up production to near their limit this year, in order to supply enough potash.