Activity still largely limited to Indian shipments

摘要

Market news has been limited this week. Nothing firm has emerged from China on a possible contract, only rumour, and there is still no further increase in demand from Brazil. BPC has a delegation in China this week and is holding discussions. Earlier in the year, many market commentators held the view that China would elect not to finalise a contract in 2009-high inventory and increasing domestic production were highlighted as factors. Meanwhile, the producers are still opting to keep the potash in the ground, rather than fill up their own inventories. But a quick look at corn harvest predictions could provide a possible counter to this view. Goldman Sachs has cut its wheat and corn price forecasts, citing the USDA's raised outlook for corn and wheat stocks ending May 2010.