March 31, 2011 / 5:28 PM / 7 years ago

UPDATE 1-Mosaic expects sales volumes to rise in fiscal Q4

* Sees fiscal Q4 phosphate volumes at least 2.5 mln tonnes

* Expects fiscal Q4 potash volumes at least 1.9 mln tonnes

* USDA corn, wheat forecasts positive indicators

* Shares dip 1 percent

NEW YORK, March 31 (Reuters) - Fertilizer producer Mosaic Co (MOS.N) expects to sell more phosphate and potash fertilizer this fiscal quarter compared with its third fiscal quarter.

The company posted a spike in quarterly profit on Wednesday, but revenue fell short of Wall Street expectations.

Several operational challenges also dented quarterly results. [ID:nN30185905]

Mosaic expects phosphate volumes to grow sequentially 5.4 percent to at least 2.5 million tonnes, the company told analysts in a conference call on Thursday.

In the company’s growing potash business, volumes should grow 2 percent, Mosaic said.

The U.S. government expects farmers to plant slightly more corn and wheat this year than analysts and traders had expected. [ID:nN31242742] [ID:nDATVEE7DE]

That is great news for Mosaic and rivals CF Industries (CF.N), Potash Corp POT.TO and Agrium Inc AGU.TO.

Shares of Mosaic fell 1 percent to $79.64 in afternoon trading.. (Reporting by Ernest Scheyder; Editing by Derek Caney)

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