Citi Maintains Buy on Mosaic

Citi is out with its report today on Mosaic MOS, maintaining Buy. In a note to clients, Citi writes, "We rate Mosaic shares Buy/High Risk (1H). Farmer purchases and application of fertilizers have improved due to firm grain prices and elevated grower income. Low nutrient soil levels in the US, tight global grain inventories and below average North American fertilizer producer inventories are supportive to potash and phosphate pricing, while international demand is strengthening." At the time of posting, shares of MOS were trading pre-market at $69.30, up 1.18% from Tuesday's close.