(Reuters) – The world’s largest crop nutrient provider, Nutrien Ltd, missed profit estimates for the second straight quarter on Thursday, as a severe winter in Canada delayed planting, while flooding in the U.S. Midwest crippled the agriculture supply chain.
The miss came as trade disruptions affect North American growers, and agricultural companies like Nutrien are hit by low crop prices. An extremely wet spring and flooding in parts of the United States led to a late start to the planting season in North America.
While core earnings from potash increased 41 percent to $461 million, Nutrien, the world’s largest producer of potash by capacity, said volumes were down as strong demand in offshore markets only partially offset lower, weather-related U.S. sales volumes.
Nutrien, which has