This is what is going through the extremely bearish heads of the timid chicken little fund managers, etc...
Grain prices have tanked, farmers wont ramp food production, wont be buying extra fertilizer, demand for fertilizer will fall back to nothing...
Fert. Report 7-Aug-2008
"Weakening prices for the main agricultural commodities are casting a shadow over fertilizer markets. Corn futures prices have dropped to $5/bushel on CBOT, soyabeans to a little over $12/bushel and wheat to £120/tonne on the London exchange. These are down from peak levels of $7.40/bushel, $15/bushel and £180/tonne respectively.
Potential profits on these crops have, therefore, fallen sharply and the confidence that farmers would continue to pay high prices for fertilizers has been dented. Demand will be maintained in subsidized markets, but slower conditions are evident in other countries."
where are the 8 dollar gang, page-34
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