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Mosaic Profit Misses Estimates Amid ‘Soft’ Chinese Demand

Mosaic Co., the largest U.S. fertilizer producer, reported fiscal first-quarter profit and revenue that missed analysts’ estimates amid “soft” potash demand in China and India while adverse weather curbed phosphate shipments.

Net income fell 18 percent to $429.4 million, or $1.01 a share, in the three months to Aug. 31, from $526 million, or $1.17, a year earlier, Plymouth, Minnesota-based Mosaic said today in a statement. That trailed the $1.15 average of nine estimates compiled by Bloomberg. Sales slid 19 percent to $2.51 billion, less than the $2.69 billion average of 14 estimates.