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Mosaic Sees Uncertain Summer Demand, Cautious Buyers

Mosaic Co. (MOS) expects a slow start to the 2013 fiscal year in June, as customers remain cautious amid uncertainty about the direction of grain and fertilizer prices. Executives with the potash and phosphate fertilizer producer said that dealers, who have been slow to secure supplies despite expectations of heavy demand this spring, are planning to end the season "largely empty" of inventory. "There is a great sense of risk-avoidance by the dealer," Chief Executive Jim Prokopanko told investors in a conference call to discuss third-quarter earnings, which were down 50% from a year ago. "The nature of the supply chain has become much more cautionary." Still, he said farmer demand will remain strong. U.S. corn farmers are expected to plant anywhere from 94 million to 97 million acres of corn this year, Prokopanko noted, potentially the most acreage since World War II. Forecasting potash demand in the first quarter of fiscal year 2013, which starts in June, has been extremely difficult, Prokopanko said. It will depend on prospects for the 2012 crop, he said. The potential for a bumper crop would weigh on the price of corn, and along with it fertilizer prices. Prokopanko said the company would likely see a slow start to the year, but a strong finish. He added that even if dealers clear out their inventory and remain cautious, ultimately demand will remain strong. "We know they may delay, but they can't completely avoid having to load up on potash and phosphate," Prokopanko said. Mosaic's third-quarter results fell below analyst expectations, and shares were recently down 4.3% to $55.71 per share. -By Ian Berry, Dow Jones Newswires; 312-750-4072; ian.berry@dowjones.com

Stock News for Mosaic (MOS)
DateTimeHeadline
07/23/201517:09:54Amended Statement of Changes in Beneficial Ownership (4/a)
07/23/201517:09:54Statement of Changes in Beneficial Ownership (4)
07/23/201511:58:47Amended Statement of Changes in Beneficial Ownership (4/a)
07/21/201519:42:12Statement of Changes in Beneficial Ownership (4)
07/21/201519:36:46Statement of Changes in Beneficial Ownership (4)
07/21/201519:36:18Statement of Changes in Beneficial Ownership (4)
07/21/201519:36:18Statement of Changes in Beneficial Ownership (4)
07/21/201519:29:03Statement of Changes in Beneficial Ownership (4)
07/21/201519:28:34Statement of Changes in Beneficial Ownership (4)
07/21/201519:24:37Statement of Changes in Beneficial Ownership (4)
07/21/201519:24:09Statement of Changes in Beneficial Ownership (4)
07/21/201519:23:40Statement of Changes in Beneficial Ownership (4)
07/21/201519:23:12Statement of Changes in Beneficial Ownership (4)
07/13/201516:43:00Mosaic Announces 2015 Second Quarter Earnings Release And Conference...
07/06/201510:05:025 Stocks to Watch in Commodities
06/26/201516:04:23Annual Report of Employee Stock Plans (11-k)
06/26/201516:03:28Annual Report of Employee Stock Plans (11-k)
06/23/201514:22:00The Mosaic Company Affirms It Is "Leading With Purpose" & Announces...
06/23/201514:22:00The Mosaic Company Affirms It Is "Leading With Purpose" & Announces...
06/15/201509:05:022 Potash Stocks to Watch Right Now

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