Initial spring crop numbers are giving markets — and phosphate producers — an early indication of just how big the expected American corn and soybean crops will be this year.
Articles Tagged "NYSE:MOS"
The Mosaic Company (NYSE:MOS) announced financial results for Q3, including net earnings of $345 million, an increase of $72 million from a year ago.
The Mosaic Company (NYSE:MOS) announced that it has entered into a joint venture with Ma'aden and the Saudi Basic Industries Corporation (SABIC) through which they will develop projects in Saudi Arabia.
Falling phosphate prices reduced Mosaic's profits in the most recent quarter, but Jim Prokopanko, the company's CEO, expects 2013 to bring "record global phosphate shipments."
Financial markets and the impact of the fiscal cliff have drawn some attention to agriculture and phosphate fertilizers, but the impacts of US fiscal policy negotiations are not yet apparent on phosphate markets.
Falling potash demand is pulling on phosphate as companies report falling phosphate fertilizer profits, softer demand forecasts and strong phosphate price volatility.
PotashCorp's earnings outlook cut is causing investors to question the future of the potash market.
The Globe and Mail reports that CIBC has slashed its price targets for Potash Corp (TSX:POT, NYSE:POT) and Mosaic Co. (NYSE:MOS) attributing the shift to a likelihood that supply will outpace demand.
Tight supply and soft demand have pushed phosphate profits down. Mosaic, for example, registered a significant decline in phosphate sales.
The Mosaic Company (NYSE: MOS) announced plans to release fiscal year 2013 financial earnings on Tuesday, October 2 2012.