August 17, 2009 / 4:16 PM / 8 years ago

Fertilizer stocks tumble as grain prices slip

* Potash Corp down more than 4 percent

* Shares of Agrium and Mosaic also lower

TORONTO, Aug 17 (Reuters) - Shares of North American fertilizer companies tumbled on Monday amid a broader selloff in equity markets and declining grain prices.

Shares of Potash Corp of Saskatchewan (POT.TO) (POT.N), the world’s largest fertilizer producer were down 4.2 percent in Toronto at C$101.14 and off 4.4 percent at $91.35 in New York.

Shares of rivals Agrium Inc (AGU.TO) AGU.N and Mosaic Co (MOS.N) were down 4.9 percent and 5.2 percent, respectively on the New York Stock Exchange.

Chicago Board of Trade soybeans dived early Monday on technical weakness and prospects for a record-large U.S. soy crop amid ideal growing conditions. Corn and wheat followed the weakness in soybeans. [ID:nN17226274]

Shares of smaller fertilizer companies CF Industries (CF.N), Terra Industries TRA.N and Intrepid Potash (IPI.N) were also down at midday.

CF shares were down 4.4 percent in New York, while Terra and Intrepid fell 3 percent and 5.4 percent, respectively. (Reporting by Euan Rocha; editing by Rob Wilson)

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