FARM BUSINESS NEWS
Mosaic 3Q Net Down
Tue Nov 5, 2013 08:52 AM CST

(Dow Jones) -- Mosaic Co.'s third-quarter earnings dropped 70% as prices and volume for its potash and phosphate fertilizers slumped.

Mosaic, one of the world's largest fertilizer companies, in September lowered its quarterly expectations for sales and volume in its phosphate and potash segments, citing short-term weakness as dealers were cautious and deferred purchases, though it said its long-term outlook remains positive. Last month, the company agreed to buy fellow fertilizer company CF Industries Holdings Inc.'s (CF) phosphate operations for $1.4 billion in cash, consolidating that business in Florida.

In the latest period, phosphate net sales--Mosaic's biggest source of revenue--fell ...

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