This week, Nutrien (NTRraised its dividend, announced a buyback and positively revised their outlook. Several keys to fertilizer prices exist, including slowly rising demand, flattish supply and the impact of climate change. A key thesis that many in the market overlook is that drought makes the value of fertilizer higher over time. We know that drought is increasing across the planet. 

According to the USGS: "No substitutes exist for potassium as an essential plant nutrient and as an essential nutritional requirement for animals and humans. Manure and glauconite (greensand) are low-potassium-content sources that can be profitably transported only short distances to crop fields."

Enter the potash mining companies.

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