The world’s top two fertiliser makers have emerged from a tough crop-planting season in the US very differently: one bruised and the other relatively unscathed.
World No. 2 crop-nutrient maker Mosaic reported adjusted earnings that missed analyst estimates for the second quarter, during which the US Midwest was in the grip of the wettest 12 months on record that kept farmers away from fields. The Minnesota-based company was hurt by falling sales volumes and weak margins for phosphate, which is used in nutrients that help plants grow.