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UPDATE: Mosaic Down, But Above Day Lows; Plans To Cut Phosphate Production Through March 2012

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Mosaic ( MOS ) is down more than 1% at around $49.65 but well above a day low $48.35 hit earlier after the company said that it plans to reduce its finished phosphate production by up to 250,000 tonnes through March 31, 2012.

The company said that spot prices of isolated phosphate market do not reflect its outlook and was not sustainable.

Volumes and pricing for phosphate and potash were within the company's prior guidance ranges. MOS will provide guidance for its third fiscal quarter in its next earnings release in January 2012.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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