UPDATE 2-Potash CEO says fertilizer prices not near peak

(Adds details and background. All figures in U.S. dollars unless noted)

By Roberta Rampton

WINNIPEG, Manitoba, June 11 (Reuters) - Potash Corp of Saskatchewan (POT.TO: Quote, Profile, Research, Stock Buzz) is poised for significant growth in the next five years as soaring grain prices give farmers the means to pay more for fertilizer, the company's chief executive said on Wednesday.

"We have a lot of pricing power. We're nowhere near peak pricing," Bill Doyle told investors at a Toronto conference held by RBC Capital Markets.

"We clearly aren't experiencing any demand destruction," he said, noting high grain prices support fertilizer hikes.

U.S. corn hit a record high of $7.56-1/4 per bushel for July SN9 futures on Wednesday because of concerns about flooding and excess rain in the U.S. corn belt.

Potash stock hit a fresh top of C$232.93 at the Toronto Stock Exchange on Wednesday, up more than 8 percent.

Potash, the world's largest fertilizer company, has seen its stock soar almost 200 percent over the past year as investors took note of concerns about world food shortages.

"People say, 'Is this the (share price) peak?' ... We're just beginning the trail here," Doyle said.