Shares of Potash Corporation (NYSE:POT), the world’s largest fertilizer producer, soared 18.0% from $16.30 to $19.24, adding 51 basis points to the Fund’s return. The stock rose along with fertilizer prices, driven by increasing demand from farmers in Brazil, China and India. The company also provided upbeat commentary on its pending merger with Agrium, which should generate meaningful synergies from the vertical integration of Potash’s fertilizer production with Agrium’s agricultural retail network.
From Jerome Dodson (Trades, Portfolio)'s Parnassus Fund third quarter 2017 commentary.
