Courtesy of RBC
PotashCorp has increased its posted price for granular potash in the U.S. Midwest by $45 per short ton (8.7 percent) from $515/ton to $560/ton. Lee expects Intrepid to follow suit and post higher prices for its customers.

courtesy of Potash Corp
If the new pricing represents "summer fill" pricing designed to encourage orders over the seasonally slower summer demand period, Lee could see additional price increases for North America this fall that are not reflected in his current forecast.

Separately, Belarusian Potash raised its granular potash price for Brazil by $50/tonne (10.5 percent) to $520/tonne CFR for large buyers and $530/tonne CFR for small buyers effective May 1. Lee believes higher offshore prices are supportive of North American potash pricing.

Farmers in Latin America are responding to strong grower economics, leading to robust demand for all fertilizer products. We believe fertilizer shipments to this market will reach record levels with potash demand of approximately 10.0 million tonnes, including Brazilian imports of 7.0 million tonnes.