The phosphate market is going to get very competitive in the next 12 months. There are three new plants coming on stream by the end of 2011.

Kailin’s 600,000st per year DAP plant located in South China will be running by the end of 2010.

Ma-aden’s plant in Saudi Arabia that will produce a 3 million st per year of DAP will be on stream by spring of 2011.

OCP-Bunge’s JV Moroccan 720,00st per year DAP/MAP plant is on target to open by the end of 2011.

The new production has North American phosphate manufacturers starting to position themselves to defend their turf. I don’t believe that this new production will impact Canadian Phosphate pricing this spring (2011) but I expect to see it impact the 2012 crop year.