On Monday, Mosaic Co. (MOS
The Plymouth, MN-based crop nutrients company provided this update because “domestic and international crop nutrient markets have softened … as a result of the distributors’ cautiousness caused by the Belarusian Potash Company (BPC) break-up.” Mosaic still sees long-term positive outlook for the industry, but sees dealers being cautious in the short-term, thus deferring their purchases.
Due to the short-term purchase deferrals, Mosaic has lowered its “price and volume guidance for both the Potash and Phosphates segments for the third calendar quarter of 2013.”
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The company has lowered its potash volume for the quarter to a range of 1.45 million to 1.65 million tonnes, and a price range of $330 to $340 per ton. Also lowered is phosphate guidance, with volume now expected in the range of 2.6 million to 2.8 million tonnes, and a price range of $430 to $440 per ton.
Mosaic shares were down 44 cents, or .97%, at Monday’s market close. YTD, the company’s stock is down more than 20%.
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