(Updates with closing share prices in second paragraph.)
Jan. 12 (Bloomberg) -- Fertilizer producers Potash Corp. of Saskatchewan Inc., CF Industries Holdings Inc. and Mosaic Co. declined in New York after reports showed higher-than-expected U.S. corn and soybean inventories.
Potash Corp., the world’s largest fertilizer producer by market value, fell as much as 4.3 percent before closing 35 cents lower at $43.45. CF, the biggest U.S. producer of nitrogen-based crop nutrients, declined 0.5 percent to $166.29. Mosaic, the biggest maker of phosphate fertilizer, dropped 0.8 percent to $54.59.
The U.S. Agriculture Department said today that corn inventories were 9.642 billion bushels on Dec. 1, above the 9.439 billion average estimate of analysts surveyed by Bloomberg. The inventories are down from 10.057 billion a year earlier, according to the report.
Soybean inventories before this year’s harvest will total 275 million bushels on Aug. 31, up from 230 million projected in December and the biggest in five years, the USDA said. The average estimate of analysts surveyed by Bloomberg was for 232 million bushels.
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