Latest news with #MosaicCo
Yahoo
3 days ago
- Business
- Yahoo
Tariffs are starting to squeeze profits for Trump-loving farmers
(Bloomberg) — President Donald Trump has repeatedly said he loves farmers. His actions, though, are rippling across the agriculture industry as tariffs raise the cost of everything from tractors to fertilizers and squeeze profits for US growers already contending with low crop prices. All Hail the Humble Speed Hump Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Major Istanbul Projects Are Stalling as City Leaders Sit in Jail Chicago Schools' Bond Penalty Widens as $734 Million Gap Looms The sweeping effects of the president's trade war are coming into sharper focus as agricultural giants including Mosaic Co. (MOS), AGCO Corp (AGCO). and Bunge Global SA report their latest results: deliveries of key nutrients to the US have plunged, machinery prices are climbing and crop buyers are limiting purchases amid mounting uncertainty. The levy-inflicted costs come at a time when American farmers — who by and large strongly support Trump — have little buffer to absorb the impact. A benchmark for corn, soybean and wheat prices has fallen to its lowest levels since the height of pandemic lockdowns amid ample supplies globally, cutting into farm revenues. For rolling updates on tariffs, check out our liveblog > 'Farmer economics in North America has been an industry concern as the price of corn has not kept up with the price of inputs,' Bert Frost, executive vice president of sales, market development and supply chain at fertilizer maker CF Industries Holdings Inc., (CF) said in a Thursday earnings call. Frost added that tariffs delayed or even cut much needed fertilizer imports into the US in the second quarter, leaving the company with 'incredibly low inventory that needs to be rebuilt in the United States and Canada.' Trump has asked farmers to give his tariff policies time to play out, promising better results than the trade deal he struck with China in his first term. Speaking on CNBC earlier this week, Trump again touted his support for farmers, calling them a 'very important part of this country' and saying he wanted to work to make sure they have the labor they need — even as many workers are deported via his immigration crackdown. 'We're not going to do anything to hurt the farmers,' Trump said. 'We're taking care of our farmers. We can't let our farmers not have anybody.' Potentially making matters worse, Trump's new tariffs officially took hold Thursday, adding to baseline rates imposed in April and continuing his push to reshape global trade. Taken together, the president's actions will drive up the average US tariff rate to 15.2%, well above 2.3% last year and the highest level since the World War II era, according to Bloomberg Economics estimates. 'All of our competitors and us have certain products that are going to be more expensive,' said Eric Hansotia, chief executive officer of tractor maker AGCO, which has recently announced some price hikes in North America. The company may also raise prices in other regions to offset the tariff impact, he added. 'We will implement price increases where appropriate and feasible.' US-bound shipments of phosphate and potash, two key fertilizers, are down 20% from a year ago and are expected to 'remain subdued,' Jenny Wang, Mosaic commercial vice president, said in a call with analysts Wednesday. Phosphate shipments were particularly impacted 'given tariffs on most of the origins,' according to Mosaic. Morocco, China and Saudi Arabia are among the top global exporters of the key crop input. The levies come at a time when tight supplies of the crop-nourishing ingredients are driving prices higher globally, Wang added. A North American fertilizer price gauge has surged 35% this year to the highest since 2022, when supply fears sent prices skyrocketing following Russia's invasion of Ukraine. Adding to cost woes, tariff uncertainty has also harmed crop demand. Outstanding US soybean sales for delivery in the marketing-year starting next month are at the lowest level in almost two decades, with no sales booked yet for top buyer China, according to US Department of Agriculture data compiled by Bloomberg. Customers are going 'very spot,' meaning they have limited their crop purchases to immediate needs, Bunge Chief Executive Officer Greg Heckman said in a call with analysts last week. Bunge reported the lowest second-quarter adjusted earnings per share since 2018. —With assistance from Michael Hirtzer, Ilena Peng and Skylar Woodhouse. The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Digital Nomads Are Transforming Medellín's Housing Russia's Secret War and the Plot to Kill a German CEO It's Only a Matter of Time Until Americans Pay for Trump's Tariffs The Game Starts at 8. The Robbery Starts at 8:01 ©2025 Bloomberg L.P. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Bloomberg
3 days ago
- Business
- Bloomberg
Tariffs Are Starting to Squeeze Profits for Trump-Loving Farmers
President Donald Trump has repeatedly said he loves farmers. His actions, though, are rippling across the agriculture industry as tariffs raise the cost of everything from tractors to fertilizers and squeeze profits for US growers already contending with low crop prices. The sweeping effects of the president's trade war are coming into sharper focus as agricultural giants including Mosaic Co., AGCO Corp. and Bunge Global SA report their latest results: deliveries of key nutrients to the US have plunged, machinery prices are climbing and crop buyers are limiting purchases amid mounting uncertainty.
Bloomberg
5 days ago
- Business
- Bloomberg
Tariffs on Fertilizer Cause Drop in Shipments to US, Mosaic Says
Mosaic Co., the world's leading producer of two key crop fertilizers, said US tariffs are weighing on shipments. Phosphate deliveries to the US are 'tracking well below last year' with levies applicable to most sources of the fertilizer, the company said in its earnings release. Meanwhile, farmers have less to spend on nutrients as corn and soybean prices fall on 'global trade uncertainty' and the anticipation of large harvests.
Business Insider
15-07-2025
- Business
- Business Insider
Mizuho Securities Keeps Their Hold Rating on Mosaic Co (MOS)
Mizuho Securities analyst Edlain Rodriguez maintained a Hold rating on Mosaic Co yesterday and set a price target of $39.00. The company's shares closed yesterday at $36.05. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Rodriguez covers the Consumer Cyclical sector, focusing on stocks such as Ball, Crown Holdings, and Sealed Air. According to TipRanks, Rodriguez has an average return of 8.9% and a 63.24% success rate on recommended stocks. Currently, the analyst consensus on Mosaic Co is a Moderate Buy with an average price target of $38.75. Based on Mosaic Co's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.62 billion and a net profit of $238.1 million. In comparison, last year the company earned a revenue of $2.68 billion and had a net profit of $45.2 million Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MOS in relation to earlier this year. Last month, Walter Precourt, the SVP – Chief Admin Officer of MOS sold 18,000.00 shares for a total of $643,140.00.
