Knee-jerk trade after WASDE may be beriash corn, sell ferts. Yes, production and yield estimates are higher but demand is stronger too. WASDE production/supply/yield expecations are great but hiccups are still possible. In a bullish commodities scenario, you want rising supply meet rising demand, not falling supply meeting falling demand.

Potash CEO Doyle Says China to See Highest Demand Growth by 2016

By Aoyon Ashraf

May 10 (Bloomberg) -- Potash CEO William Doyle at analyst
meeting at Newfoundland.

* Sees corn prices to be strong going forward, significant
growth in Southeast Asian countries

* Brazil to be a big driver for potash demand

* POT CN forecasts ~$9b in Ebitda by 2016

* POT CN sees potential for M&A activities through 2016

* POT CN continue to evaluate offshore potash opportunities
that improve delivered cost advantages in India, China,
Brazil

* NOTE: Earlier WASDE shows corn ending stocks above est.,
watch fertilizers