Drought And Rising Grain Prices are Good for Potash Corp.

The worst drought in over 50 years has led to diminishing crops that have pushed up grain prices to new peaks. According to a report by Reuters, corn, soybean, and wheat prices have reached fresh new highs since August 10, as financial investors, such as hedge funds try to jockey for shrinking supplies ahead of end-users who may be late to the party and shell out even higher prices. Corn yield in the important Ohio belt is expected to record its lowest level in a decade, because of drought and the high temperatures that damaged crops during the crucial pollination…