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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