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(Dave Bedard photo)
Crops

Mosaic misses profit estimate amid lower demand for fertilizers

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Reuters — Mosaic Co. on Wednesday became the latest fertilizer maker to miss fourth-quarter profit estimates amid lower demand for potash and other crop fertilizers, pushing shares down 2.2 per cent in extended trading. Although prices of fertilizers such as phosphates and potash decreased toward the end of last year, it did not boost demand
Nutrien’s head office building in Saskatoon. (Liam O’Connor photo)
Crops

Nutrien misses profit estimates amid higher fertilizer prices

CF Industries also books lower sales

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Reuters — Canadian fertilizer maker Nutrien on Wednesday forecast lower-than-expected 2023 earnings and posted fourth-quarter profit below Wall Street estimates, sending shares down 2.6 per cent in extended trading. While higher fertilizer prices dented demand in early second-half of last year, a fall in prices later in the year did not boost demand as farmers
A view of BHP’s potash mine project north of Jansen, Sask. (BHP.com)
Crops

Feds back BHP potash mine for sustainable tech

Fund to provide $100M for electrifying equipment

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Major miner BHP’s potash mine-in-progress in Saskatchewan has picked up $100 million in federal funding to go toward investments in low-emissions equipment. Federal Industry Minister Francois-Philippe Champagne on Monday announced BHP’s Saskatoon-based Canadian arm will get backing from Innovation, Science and Economic Development Canada’s Strategic Innovation Fund (SIF) for the mine at Jansen, Sask., about
The Mosaic Co. potash mine at Colonsay, Sask., southeast of Saskatoon. (MosaicInCanada.com)
Crops

Mosaic says stockpiles too high to restart Saskatchewan mine

Company expects Russia, Belarus 2023 potash exports at 2022 level

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Winnipeg | Reuters — Fertilizer producer Mosaic Co. does not currently see the right market conditions to restart its idled Saskatchewan potash mine, with high inventories in the U.S. and Brazil and cold weather slowing trains from Canada, CEO Joc O’Rourke said Wednesday. Mosaic curtailed potash production in December at its Colonsay, Sask. mine, but
File photo of a train in Belarus. (Dimarik/iStock/Getty Images)
Crops, Markets

Belarus to allow Ukraine grain transit with no preconditions, U.N. says

Belarus still wants sanctions lifted off fertilizer

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United Nations | Reuters — Belarus told the United Nations on Friday that it would allow, without preconditions, the transit of grain from Ukraine through its territory for export from Lithuanian ports, a U.N. spokesman said. Belarus, used by its ally Russia as a staging ground for Moscow’s Feb. 24 invasion of Ukraine, said in
The Mosaic Co. potash mine at Colonsay, Sask., southeast of Saskatoon. (MosaicInCanada.com)
Crops, Markets

Mosaic to throttle back Saskatchewan potash mine

Demand increasing, but 'slower than expected'

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Demand for potash is coming back after “a year of reduced applications” — but not quickly enough that U.S. fertilizer giant Mosaic Co. plans to keep all its Saskatchewan mines running at their current pace. Florida-based Mosaic said Tuesday it has now “temporarily curtailed” production at its potash mine at Colonsay, about 65 km southeast
(PortOfThunderBay.com)
Crops

Thunder Bay grain shipments up in October

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MarketsFarm — The Port of Thunder Bay saw an increase in its grain handle in October 2022, moving 840,000 tonnes during the month. The grain exports were up by 33 per cent from September and up by eight per cent from October 2021, according to a news release. The increase was seen as a return
Photo: iStock/Getty Images Plus
Markets

Nutrien cuts 2022 profit forecast again on lower potash prices

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Reuters – Nutrien Ltd NTR.TO on Wednesday cut its full-year adjusted earnings forecast for the second time this year as potash prices decline, sending the shares of the world’s biggest fertilizer maker down nearly 5 per cent in extended trading. The company also missed third-quarter profit estimates, hurt by cooling prices of crop nutrients as farmers cut fertilizer application
Nutrien’s head office building in Saskatoon. (Liam O’Connor photo)
Crops, Markets

Nutrien’s interim CEO named CEO

Seitz sees 'a lot of uncertainty' continuing in market

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Reuters — Canada’s Nutrien Ltd., the world’s largest potash fertilizer producer, named Ken Seitz as chief executive on Monday, removing the interim tag. Nutrien in January surprised investors by replacing its CEO for the second time in eight months. It then named Seitz, the head of its potash business, as interim CEO, replacing Mayo Schmidt.

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