BMO Says Mosaic's 2013 Production Outlook 'Appears Soft'

BMO analyst Joel Jackson offered his analysis of Mosaic's

Q2 results Friday, saying the company beat on the “strong” North American fall potash application season and lower-than-expected tax rate. Jackson believes the company's 2013 forecast “appears soft” in regards to both potash/phosphate volumes and pricing. The third quarter potash volume forecast was “most surprising” to Jackson though, suggesting there may be a timing issue as the North American market “warms up” closer to the April/May application. Shares of Mosaic are up more than 3 percent Friday afternoon.