Mosaic Says Fertilizer Demand Down ‘Well Beyond Normal’ (1)

Shares of Mosaic Co. slumped as the fertilizer company said North American demand “declined well beyond normal seasonal softness” in the fourth quarter due to a weak farmer economy and weather.

Market conditions for phosphate, a key crop input for farmers, were “particularly challenging” due to relatively higher prices, with shipments seen down 20% in the fourth quarter compared to a year ago, the Tampa-based company said Friday. Demand for potash “was also negatively affected, though only modestly,” according to a statement.

Mosaic said the challenges “significantly impacted” its fourth quarter performance. Its shares fell as much as 6.3% ...