Saskatoon based Potash Corp. of Saskatchewan Inc. has had a drop in the share prices owing to a drop in corn plantation by farmers and this has infuriated its Chairman, Bill Doyle.

It may be noted that as the planting of corn has been done early this year, the market analysts have estimated, a high crop yield of corn and thus lesser use of the potassium based fertilizer is being speculated.

But, Bill Doyle has negated all such speculations and at a discussion of the first quarter report, he clarified that the corn growing farmers were spending lesser than 4% on the fertilizer because they are producing lesser quantity of corn, priced at $3.65 per bushel.

“Fertilizer demand and prices do not rise and fall with day-to-day movements in crop commodity markets. When you look at the big picture, today's crop prices are well above historical averages. That makes the economics of farming and proper fertilizer use very attractive”, Bill Doyle informed.

But agricultural specialists are not finding the situation unusual, as farmers often resort at cutting their input costs, at a time when the prices of the crops are at a decline.

An Analyst with Broadpoint Amtech, Edlain Rodriguez feels that sentiments are never cared for, when prices of the crops are falling.

Potash Corp. has registered a profit in its first quarter results and this is a positive indication that can help the corn production revival.

Also, corn prices are expected to go up as recently U. S. Agricultural Department has announced its plans to start exporting corn to China, after a 4 year gap.