Shares of agricultural chemical companies mostly declined on Thursday, following the broader market trend, despite Potash Corp. of Saskatchewan Inc.'s sharply higher first-quarter profit.
Potash raised prices as a result of global demand for food and ethanol, causing first-quarter profit to more than double.
The company also offered a second-quarter profit outlook of $2.20 to $2.50, versus Wall Street expectations of $2.30.
How shares of major agricultural chemical companies fared Thursday morning:
DuPont Co., down 26 cents to $49.72.
Dow Chemical Co., up 9 cents to $39.31.
Potash Corp. of Saskatchewan Inc., down $11.72, or 5.7 percent, to $192.39.
Mosaic Co., down $10.14, or 7.7 percent, to $123.12.
Agrium Inc., down $3.18, or 3.7 percent, to $83.47.
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