- A bounce in potash markets is possible next year, assuming China steps back into the market and Russia and Belarus paper over differences that have disrupted the market, Potash Corp. (POT +1.4%) says at the Citi basic materials conference.
- A supply contract in Q1 2014 between China and Canpotex - the export arm of Potash, Mosaic (MOS +3.3%) and Agrium (AGU +2.5%) - would set a price floor, then Indian buyers might lock in prices with Canpotex, followed by deals in other markets, setting up a chance for a "nice bounce" in H1 of next year, POT CFO Wayne Brownlee says.
- POT says its decision to cut its workforce by ~18% will lead to cost reductions across the board; it anticipates a one-time cash charge in Q4 of ~$70M.