"Some of the world's biggest fertilizer companies are banking that the aftermath of the worst U.S. drought in 56 years will boost sales, as U.S. farmers seek to cash in on high crop prices."
"Chicago Board of Trade corn and soybean futures hit all-time high prices this summer, as the drought slashed U.S. harvest estimates to the smallest in 6 and 9 years, respectively.
Those high prices may carry into next spring's North American planting season, depending on how South American crops fare in the meantime, leaving farmers with a strong incentive to maximize crop production by applying yield-boosting fertilizer, the companies said."
Rod Nickel reports for Reuters September 19, 2012.
Source: Reuters, 09/19/2012
