Lower commodity prices had a major impact on Sociedad Quimica y Minera de Chile S.A. (SQM) with net income before minority interest falling 44 percent for the second quarter ending June 30, 2013 to $109 million on revenues of $566.5 million compared to the year-ago $193.9 million on revenues of $683.3 million. Six-month income was $261.6 million on revenues of $1.19 billion, down from $345.6 million and $1.21 billion, respectively.

OAO Uralkali CEO Vladislav Baumgertner has been detained in Belarus after having met with Prime Minister Mikhail Myasnikovich, according to the Russian press. He is reportedly being charged with abuse of office as chairman of the Belarusian Potash Co.

Uralkali left the BPC marketing group July 30. Reports are Belarus authorities are seeking to arrest additional Russian Uralkali officials.

The U.S. Gulf NOLA MAP price for the Green Markets dated Aug. 26 should have appeared as a flat $420/st on the page 5 Price Scan to align with the text on page 7. This change will be made in our database and will also be noted in the print edition dated Sept. 2.

CHS Inc. and Dakota Plains Cooperative, a full-service agribusiness headquartered in Valley City, N.D., announced today the two cooperatives have been in discussions about entering into a merger transaction and now seek approval from the members of Dakota Plains Cooperative and the CHS board of directors.

Integral to this effort is close examination of opportunities to enhance agronomy assets in the east central area of North Dakota. Plans under discussion include constructing three new fertilizer plants within the Dakota Plains trade area to take full advantage of the proposed fertilizer manufacturing facility in Spiritwood, N.D., currently under review by CHS.

"Dakota Plains is excited to have the opportunity to partner with CHS. They have worked well with us in the past and we look forward to taking our relationship to the next level," said Greg Svenningson, Dakota Plains Cooperative board president. "This merger will allow Dakota Plains to more fully align and partner our growers with the nation’s largest cooperative."

"Both organizations are looking for growth and expansion opportunities at the same time we protect member equity," said John McEnroe, executive vice president, CHS Country Operations. "We are always interested in investments that align with the CHS commitment to helping our farmer-owners grow their businesses."

A series of informational meetings for Dakota Plains patrons are being scheduled for September to bring more information to area growers.

Dakota Plains Cooperative (dakotaplains.coop) offers farmers and ranchers a full line of agronomy, seed, feed and energy services and products from 15 locations in central and southeast North Dakota.

CHS Inc. is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. CHS, a Fortune 100 company, supplies energy, crop nutrients, grain marketing services, livestock feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex^® brand refined fuels, lubricants, propane and renewable energy products.

BHP Billiton reports that it will continue to invest in the Jansen Potash project in Saskatchewan by investing US$2.6 billion to finish the excavation and lining of production and service shafts, and to continue the installation of essential surface infrastructure and utilities. This investment will be spread over a number of years, with completion of both shafts expected during the 2016 calendar year, while the associated works program will extend into the 2017 calendar year.

BHP said the longer term outlook for potash is strong. BHP assumes a shift away from the current marketing dynamic and believes the potash price will ultimately reflect the cost of adding new supply.

BHP says Jansen is the world’s best undeveloped potash resource and is capable of supporting a mine with annual capacity of ten million mt for more than 50 years. It says with economies of scale and the use of modern mining techniques, Jansen is likely to be one of the lowest cost sources of supply once fully developed. The successful excavation and lining of both shafts will substantially reduce development risk and allow the company to time first production to meet growth in market demand.

“Annual investment at Jansen of approximately $800 million will form an important part of the Group’s capital and exploration budget, which will decline to approximately US$16 billion this year,” said BHP CEO Andrew Mackenzie. “Continued development of the shafts reflects our confidence in the quality of our 5.3 billion mt measured resource and the compelling long term fundamentals of the potash industry. “Investment at Jansen is creating a valuable asset and we will continue to pursue a development path that maximizes returns for shareholders. In time, this may include the introduction of one or more partners, consistent with our approach for other major operations.”