Why Mosaic (MOS) Stock Is Down Today

NEW YORK (TheStreet) -- Shares of Mosaic (MOS) are lower by 2.22% to $44.41 in late morning trading Tuesday following the company's announcement that it is reducing phosphate fertilizer production due to high prices of sulfur and ammonia.

The agricultural fertilizer company said this reduction will lower operating rates of its mines and concentrates plants. Mosiac does not anticipate employee layoffs.

"Phosphate raw material input costs are disconnected from fundamental agricultural economics, and have escalated despite weaker grain and oilseed prices," said Mosaic CEO Jim Prokopanko. 

More from Markets

Dow Futures Turn Positive After Boeing Earnings Blowout; Twitter Boosts Nasdaq

Dow Futures Turn Positive After Boeing Earnings Blowout; Twitter Boosts Nasdaq

Facebook, Boeing, Shire and Credit Suisse - 5 Things You Must Know

Facebook, Boeing, Shire and Credit Suisse - 5 Things You Must Know

Facebook Prepares for Earnings and 4 Other Stories You Must Know Wednesday

Facebook Prepares for Earnings and 4 Other Stories You Must Know Wednesday

Facebook's Investors Have a Big Day Ahead

Facebook's Investors Have a Big Day Ahead

The Global Stock Market Rout Spreads Across the World

The Global Stock Market Rout Spreads Across the World