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Fertilizer prices have dipped from record highs last year, but that has failed to boost demand from farmers who are expecting prices to settle even lower.
The company also lowered its full-year adjusted earnings forecast between $5.50 per share and $7.50 per share, compared with its previous outlook of $8.45 per share to $10.65 per share.
On an adjusted basis, the potash producer earned $1.11 per share in the three months ended March 31, compared with estimates of $1.47, according to Refinitiv data.
