Potash has been really hot in North American markets since 2007, who would guess its share price would plunge 75% from its June 2008 high? The answer is we do not need to guess, the charts tell us all.
So why does a fertilizer company get affected by this credit mess? I think the energy price drags down the commodities & energy sector. Energy drives up food prices so food prices are dragged down by energy price drop. Therefore the fertilizers price drop as well.
Just for your interest, corn futures down 51% from its high in June, 2008 high. Soy futures down 45% from July, 2008 high.
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