The business dispute roiling the global potash market escalated after Belarus accused top executives at Russian producer OAO Uralkali of a criminal scheme, threatening to embroil both governments in a conflict that could cause broader economic and political damage.
Potash Corp. of Saskatchewan Inc. , the world’s largest producer of its namesake crop nutrient, rose the most in more than four months in New York amid speculation corn and soybean futures will extend price gains into next year.
Canpotex Ltd., the export arm of North America’s largest potash producers, has no spare supply to sell to India this quarter and won’t resume negotiations with Indian buyers until “late” in the period, said Mosaic Co. Chief Executive Officer Jim Prokopanko.
China may not sign a potash supply agreement with North America’s largest producers of the crop nutrient until next year as it holds out for a lower price than the one agreed to in the first half, according to Mosaic Co.
Canadian stocks rose for the first time in four days as gold futures rebounded from a two-month low and Potash Corp. of Saskatchewan Inc. gained after an analyst raised his share-price estimate on the stock.
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.
Potash Corp. of Saskatchewan Inc. , the target of a $40 billion hostile takeover offer from BHP Billiton Ltd. , reported third-quarter profit that beat analysts’ estimates and raised its full-year earnings forecast.
Potash Corp. of Saskatchewan Inc. , the world’s largest fertilizer company, dropped the most in four months in New York on speculation the Canadian government will block BHP Billiton Ltd. ’s $40 billion hostile takeover offer.