MOS Mosaic Company

   By Tess Stynes 
 

Mosaic Co. (MOS) cut its third-quarter production outlook and will extend maintenance downtime at its Colonsay mine in Canada as part of efforts to slow production to reflect softer demand, which is mostly related to delayed fertilizer purchases in Brazil and North America.

The company, one of the world's biggest fertilizer makers, said that since its guidance in early August international and domestic fertilizer markets have softened, including lower-than-expected volume and weaker prices.

Mosaic expects volume for phosphate, a key product, will come in at the lower end of the company's previous guidance for 2.1 million tons to 2.4 million tons, though average selling prices are projected in the upper half of its previous view for between $435 a ton and $455 a ton.

The company also sees potash volume in the lower half of its previous guidance for 1.6 million tons to 2 million tons, while average selling prices also are expected in the bottom half of its prior estimate for between $260 a ton and $280 a ton.

Mosaic in August reported its second-quarter earnings rose 57%, boosted by cost controls and higher sales of phosphates.

Write to Tess Stynes at tess.stynes@wsj.com

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(END) Dow Jones Newswires

September 21, 2015 17:16 ET (21:16 GMT)

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