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Mosaic's Profit Plunges 43% but Analyst Sees Potential Ahead

Fertilizer company Mosaic reported a 43% drop in first-quarter profit on declining prices of phosphate and potash. Mosaic president and CEO Jim Prokopanko cited weather-related challenges during the quarter, but also said that strong global demand for phosphates improved margins. Along those lines, Bank of America Merrill Lynch analyst Kevin McCarthy said in a research note that Mosaic stands to benefit from a rebound in global potash demand in 2014 and he expects phosphate margins to improve.