MOSIAC PAINTS A BEAUTIFUL QUARTER

Anybody remember when the U.S. farm economy was in such dire straits that folk singers penned tunes lamenting the destruction of the family farm? That sentiment is as out of style as feathered haircuts, judging from the financial performance of agricultural commodity companies. The latest: a brilliant quarter from ag chemicals maker Mosiac (MOS), which reported that its fiscal third-quarter net surged twelve-fold on a 68% spike in sales. Rising prices and demand for its phosphates and potash products, abetted by derivative gains, offset what the company described as ‘’significantly higher” raw materials costs. Both top- and bottom-line results easily eclipsed forecasts. The company said that a recession, if it comes, isn’t going to derail its business. Shares up about six percent in pre-market trading