UPDATE 3-K+S cautious on 2010 potash demand; no cash call

* Q3 EBIT ex-forex hedging 9.4 mln eur vs 18 mln in poll

* Sees 2010 global potash demand at 45 Mt vs PCS's 50 Mt

* Cuts 2009 sales volume assessment; warns on prices

* Stock up 2.3 pct as cash call averted

(Adds analyst comment, shares)

By Ludwig Burger

FRANKFURT, Nov 12 (Reuters) - German potash miner K+S (SDFG.DE) was cautious on 2010 fertiliser demand and warned on prices when reporting earnings on Thursday, although a feared cash call failed to materialise, sending its shares higher.

The world's fourth-biggest potash supplier said global demand for the mineral should rise to 45 million tonnes in 2010 from around 30 million in 2009, a year in which demand slumped sharply, underlined by K&S's forecast-lagging quarterly earnings.

Industry leader Potash Corp of Saskatchewan (POT.N) recently said it sees demand next year at around 50 million tonnes.