MOS Updates on Market and Issues Preliminary Q4 Sales Volumes

Core Insights - The Mosaic Company (MOS) is experiencing challenging conditions in the North American fertilizer market, with a significant decline in phosphate shipments and overall demand pressures [2][3][8] - Despite the current weakness, MOS anticipates a more favorable market in 2026, driven by nutrient replenishment and government support for growers [5] Group 1: Market Conditions - North American phosphate shipments are estimated to be down about 20% year over year, with potash demand also slightly impacted [2][8] - In Brazil, credit constraints and increased competition have negatively affected market conditions, leading to lower sales volumes for Mosaic Fertilizantes, which remained flat at 9 million tons for the year [4][8] Group 2: Sales and Production - MOS expects fourth-quarter phosphate sales volumes of approximately 1.3 million tons and potash volumes of about 2.2 million tons, reflecting the challenging market conditions [3][8] - The company has adjusted its phosphate production plans and redirected products to regions with stronger demand, maintaining production levels from the prior quarter [3] Group 3: Future Outlook - MOS forecasts a constructive 2026, with expectations for global phosphate and potash shipments to potentially reach record levels [5] - The phosphate markets are expected to balance tightly, with prices responding positively to global demand since the start of 2026, while potash markets remain stable due to early contract settlements in China [5]