Agrium swings to Q1 loss on higher costs, lower phosphate prices

Higher natural gas prices and lower phosphate prices have driven Calgary-based Agrium to a smaller-than-expected first-quarter loss. The owner of the largest farming input retail distribution network in North America, which is in the process of merging with Canadian counterpart Potash Corporation of Saskatchewan to create a new $36-billion entity, reported a net loss of $11-million, or $0.08 a share, compared with net earnings of $2-million, or $0.02 a share, a year earlier.