Bunge Posts Loss; Potash Profit Smaller

Potash said Thursday that it expected second-quarter earnings per share of $1.10 to $1.50, below analysts' average forecast of $2.21.

"The first quarter demonstrated the benefits of our potash strategy of matching supply to market demand, as well as our ability to remain profitable even during periods of demand deferral," said Potash President and Chief Executive Officer Bill Doyle.

"While buyers have delayed purchases since the fourth quarter of 2008, the need for potash and other fertilizers cannot be denied. The fundamentals of our business remain extremely favorable, with historically low global grain stocks, supportive crop prices, depleting customer potash inventories and expectations of tight potash supply/demand dynamics for at least the next five years."