PotashCorp pares output, profit predictions as potash prices plunge

The world’s largest supplier of the crop nutrients by volume, Potash Corporation of Saskatchewan, will shutter its operations and cut output as margins for all three of its main products have fallen, sending its NYSE-quoted stock falling as much as 4.3% in early trading. For the three months ended September 30, Saskatoon, Saskatchewan-based PotashCorp reported an 11% year-on-year drop in net profit to $282-million, or $0.34 a share, compared with earnings of $317-million, or $0.38 a share, a year earlier.