Mosaic Co.

Mosaic Co.'s (MOS) fiscal third-quarter profit jumped 26% as the fertilizer producer reported increased potash sales volumes and a foreign currency transaction gain.Although potash prices have remained under pressure in recent months, as large buyers in China and elsewhere signed supply contracts for 2013 at lower prices, demand has been better than expected, improving market fundamentals, the company said. Revenue from Mosaic's potash segment jumped 37% from a year ago.The new China contract signed in late December provided a signal to other buyers that a pricing floor was established in the market, Chief Executive Jim Prokopanko said in an interview. At the same time, other concerns that had the potential to limit potash volume, including exceedingly dry U.S. soils and historically low Mississippi River water levels, also abated."The whole worry list has been reduced," Mr. Prokopanko said.The chief executive said he now expects producer inventories to be drawn down in coming months "...

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