Nutrien Ltd., Saskatoon, reported second-quarter net earnings of $765 million, which was below analyst expectations of $788.3 million. Sales were $8.42 billion. Year-ago earnings were $858 million on sales of $8.7 billion. Nutrien’s Retail segment, however, delivered record second-quarter and first-half EBITDA.
Shares of The Mosaic Co., Tampa, have been up since the Aug. 7 news that the U.S. International Trade Commission (ITC) would continue with its investigation of Mosaic’s petition against phosphate imports from Morocco and Russia. The ITC determined that there is a reasonable indication of material injury and said it will proceed with the investigation. Mosaic shares went up 6.5 percent on Friday, Aug. 7 to close at $17.19 and rose another 7 percent on Monday, Aug. 10 to close at $18.40.
Nine companies offered only 1.3 million mt in the RCF urea tender that closed August 10. Offers on a delivered basis were evenly split between East Coast and West Coast deliveries. Three companies offered 327,000 mt on an FOB basis. Prices are expected to be released August 11.
