vhehn and RiceRocket already voiced their opinions. Final decision is yours Or buy puts to protect yourself.
One thing you're not thinking about looking at fundamentals is pricing. If demand dries up for fertilizer from the ethanol subsidies being taken back, their earnings/PE could contract rapidly as their pricing power reverses. They're already price for perfection, it won't take much to pop the bubble.
Ya know what Rice, there are a hell of a lot of people in China and India and thats not going to go away. I heard somewhere that they have as many basketball fans as we do people. Whats a better investment than that?