Warning也就把TRA压下2%。前面POT也warning,MOS也报盈余低于预期，但股价很快就长回来，可见化肥农业股的坏消息根本压不下骨架，一旦坏消息出尽，股价就到飞起来的时候了。下面是TRA的outlook.

Terra continues to expect positive fundamentals for the next crop year:

• Strong agricultural nitrogen demand—
Recent improvements in the forward corn markets support expectations for U.S. corn plantings of 86-87 million acres in spring 2010. Nitrogen inventories were reduced coming out of the 2008-2009 fertilizer year; thus forecasted nitrogen demand will need to be met with higher domestic production levels and stronger import volumes. Because the nitrogen supply chain takes months to restock in preparation for the spring application season, Terra expects buying interest and product shipment levels to improve.

Strengthening nitrogen selling prices

—Since the U.S. must import approximately 50% of its nitrogen needs, domestic prices must reach levels to attract imported material. Over the course of the third quarter, Terra saw domestic urea and ammonia prices strengthen closer to globally competitive levels. UAN prices did not realize a similar improvement; current prices remain at levels that will not attract adequate imports to meet demand, and do not reflect an appropriate comparative nutrient value. Terra believes UAN prices will appreciate to compete in global markets and more reasonably reflect its value to the end-user.