GFM Network News

PotashCorp notches higher profit as sales climb

Reuters — Saskatchewan-based PotashCorp reported a bigger-than-expected rise in quarterly profit on Thursday and raised its full-year outlook, citing lower costs and increased sales volumes. Shares of the Saskatoon-based fertilizer producer rose 1.6 per cent in early New York trading, touching a three-week high. Revenue was lower in the first quarter due to weaker prices […] Read more

Canpotex aims for ‘material’ potash price bump from China

Winnipeg | Reuters — Canadian potash exporter Canpotex is pressing Chinese buyers to pay a “material” price increase for the fertilizer in their annual supply contract, as spot values in other markets rise off multi-year lows, Canpotex’s chief executive said on Monday. “We’re not interested in some kind of ratcheting down. That is for sure,” […] Read more

Indian regulator warns on Agrium-PotashCorp merger

New Delhi | Reuters — India’s competition regulator said the proposed merger between Agrium and PotashCorp was likely to hurt competition, a government statement said Wednesday. The two Canadian fertilizer producers agreed to merge last September to navigate a severe industry slump by boosting efficiency and cutting costs. Neither Agrium nor PotashCorp have physical presence […] Read more

Agrium forecasts less profitable year than expected

Reuters — Fertilizer maker Agrium, the world’s biggest farm retailer, on Thursday forecast a less profitable year than expected and said its quarterly profit plunged. The Calgary-based company said after normal trading hours that it expects to earn $4.50-$6 per share in 2017. The midpoint of $5.25 fell below analysts’ average estimate of $5.45, according […] Read more

PotashCorp to cut jobs, output as prices sag

Reuters — Fertilizer maker PotashCorp said Wednesday it was reducing jobs and output at one Saskatchewan mine and temporarily curtailing production at two others as the sector struggles with weak prices. The company said it would cut production at its Cory potash mine, just west of Saskatoon, to 800,000 million tonnes a year from 1.4 […] Read more

Agrium posts quarterly loss

Reuters – Agrium, the Calgary-based fertilizer maker that’s in the midst of a merger with PotashCorp, reported a quarterly loss Nov. 3. The company reported a net loss from its operations of $52.2 million, or 39 cents a share in the third quarter, which ended Sept. 30. That’s compared to a net profit of $132.5 […] Read more

This is my good neighbour Iver Johnson with his 9770 and MacDon header cutting peas on the farm of another good neighbour Curtis Block near Dundurn, Sask., on August 16, 2016. The crop yielded 50 bushels per acre of of beautiful white peas. The MacDon header is a real cutting machine and Iver made good time. Curtis and Iver work together and it is a great thrill for this old fossil to watch it all happen. During harvest, Iver traded up to an S 680, so now they have two S 680s at work.

Potashium: fertilizer mergers

In the wake of announced mergers, a look at the history of Prairie fertilizer

The recent proposed merger of Potash Corporation of Saskatchewan and Agrium has generated much discussion about the merits or pitfalls. I have little knowledge of the backroom dealings of huge corporations but am uneasy about companies becoming too large and competition dwindling. The final decision will be up to the Government of Canada Competition Bureau […] Read more