Saskatoon-Potash Corp. of Saskatchewan Inc. President and CEO Bill Doyle told analysts at the Morgan Stanley Basic Materials Conference that he was not particularly crazy about the $5/mt increase negotiated by Belarusian Potash Co. with the Chinese over potash. He said money was left on the table. Not all is lost though, as Doyle believes potash prices to Brazil could go up $100/mt. He said a $60/mt increase has already been identified. Meanwhile, in North America, Doyle says his company has increased its market share as Agrium Inc. and The Mosaic Co. have had to allot tons to Canpotex that they might have sent to North America. He said the two have to meet their Canpotex quotas or risk seeing them decline. Doyle was skeptical that U.S. corn acreage can get as high as 90 million acres in 2007, as some have speculated. He said he had a hard time finding those extra acres. However, he does go along with many, who eye a more conservative corn acreage of 86-87 million. He sees soybeans at 66 million. He said the added corn acres will come from soybeans.
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