Saturday, July 11, 2009

Potash pricing starting to slip

from Reuters:

MOSCOW, July 11 (Reuters) - Belarussian Potash Co, a major supplier of potash to world markets, may revise its price offers after reports that rival supplier Silvinit (SILV.RTS) agreed a deal with India at levels far below market expectations.

read the rest.

I will be writing more about the the world fertilizer business in the newsletter soon, but here are a couple quick chart observations on two of the big players in the industry, POT and MOS.

POT down big, on volume. uptrend not quite broken yet, but selling pressure looks to just be picking up.

relatively large volume on MOS too, but shares managed to hold the very recent support. head and shoulders are all the rage these days, so maybe MOS will find buyers around the potential neckline I drew on the chart and then bounce up some to make something of a 'right shoulder'.