Mosaic Corp. ( MOS) said after Wednesday's closing bell that it plans to reduce its production of finished phosphate by up to 250,000 tons through the end of March. ""Isolated phosphate market spot prices have become disconnected with the underlying agricultural fundamentals," said Jim Prokopanko, the company's president and CEO, in a press release. "As dealers and distributors focus on the macroeconomic uncertainty and delay purchases for the North American Spring Season, near term supply of phosphate barges on the Mississippi River has exceeded near-term demand. The current spot prices in this market do not reflect our outlook for the business, nor do we think they are sustainable." The company also said it plans to release its fiscal second-quarter results on Jan. 4, adding that: "Volumes and pricing for the second fiscal quarter were within prior guidance ranges, for both phosphate and potash." The stock closed Wednesday at $50.29, down more than 30% in 2011. -- Written by Michael Baron in New York. >To contact the writer of this article, click here: Michael Baron.