The consensus among potash companies participating in Bank of Montreal’s (BMO’s) Capital Markets Metals and Mining conference this week was that potash prices had reached a seasonal bottom on the back of production deferrals and cutbacks. However, BMO fertilisers and chemicals research analyst Joel Jackson disagreed, arguing that prices could in fact fall further this year. Speaking during BMO’s Mining Outlook conference call on Thursday, Jackson noted that certain market participants, such as Potash Corporation of Saskatchewan and The Mosaic Company, were spinning a more positive story this week, despite fundamentals for the price outlook remaining weak.
