Mosaic said it is attempting to match its supply to the current market's demand. Indeed, as crop prices pull back from earlier highs, farmers are holding off on purchasing fertilizers for the upcoming spring season.Īs the demand for phosphate and fertilizers declines, so do prices. "As dealers and distributors focus on the macroeconomic uncertainty and delay purchases for the North American Spring Season, near term supply of phosphate barges on the Mississippi River has exceeded near-term demand." President and CEO, Jim Prokopanko said: "Isolated phosphate market spot prices have become disconnected with the underlying agricultural fundamentals. The Plymouth, Minnesota-based company plans to reduce production by up to 250,000 tonnes through to March 31, 2012, in an effort to maintain sustainability. In New York, shares of the company fell 2.9 percent in pre-market trading to $48.83 Thursday. Mosaic ( NYSE:MOS) saw its shares drop early Thursday after reporting that it will curtail its production of finished phosphate, as spot prices for the popular fertilizer continue to fall. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation.
#Mosaic stock price today software
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