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Tuesday, Jul 16
Agrium (AGU -2.2%) and Potash (POT -3%) are finishing lower after Mosaic (MOS -3.6%) reports...
Agrium (AGU -2.2%) and Potash (POT -3%) are finishing lower after Mosaic (MOS -3.6%) reports in-line May quarter EPS to go with a revenue beat, as weak prices offset strong potash/phosphate sales. Mosaic also issued soft price guidance for the August quarter, made cautious remarks about Indian demand (citing subsidy cuts), and hinted Chinese customers are looking for lower prices. "Chinese buyers will be sorely tempted to pull the trigger if we go below anything where we're at today." The company plans to run its Canadian mines at less than 75% of capacity this quarter, ostensibly for maintenance. (Mosaic transcript)