Mosaic Co.'s stock jumped 5 percent Wednesday after the Plymouth-based fertilizer maker announced an improved near-term outlook.
Since the company issued its fiscal fourth quarter guidance a month ago, both U.S. and international fertilizer markets have "strengthened significantly," meeting the upper end of management's initial expectations for sales volume, the company said in a news release.
"Global demand for crop nutrients has increased sharply, driven by an early and strong spring season in North America, combined with increasing shipments to South America," Mosaic Chief Executive Jim Prokopanko said in the release.
"We anticipate another year of high farm income in North America -- the second highest on record -- and strong farm economics around the world," he said.
Mosaic was at $53.11, up $2.63, in morning trading.
Mike Hughlett 612-673-7003
