Inventory levels of potash in North America fell 15% last month, according to Potash Corporation of Saskatchewan Inc. (NYSE:POT).
In its Monthly Market Data Update, ending inventory of potash dropped from 3 million tonnes to about 2.5 million tonnes. Falling inventories may signal an uptick in future demand.
Potash ending inventories are still well above the levels in previous years.
Spot potash prices are trading just below $500 tonne.
PotashCorp is trading at $43.48 a share, up 4.84% this year.