Mosaic, the world's largest phosphate producer, makes agricultural fertilizer out of potash, and phosphate. Mosaic owns a 13% share of phosphate global production and a 58% share of American production.^[1] Similarly, Mosaic owns a 13% of potash global production and a 40% share of North American production.^[1] It makes phosphate out of ammonia and sulfur. When sulfur and natural gas are cheap, phosphate is cheap to make, and therefore more profitable to sell. ^[2] When the price of crops goes up, farmers try to make their land produce more per acre. Thus, a bet on Mosaic is much like short selling ammonia and sulfur futures, and going long on corn , wheat , and soy bean prices.

Mosaic Company competes directly with the Potash Corporation of Saskatchewan (POT) and Agrium (AGU) for control over the Potash and Phosphate sectors of the commercial fertilizer industry. Mosaic is deadlocked with The Potash Corporation in the Potash market, but thoroughly dominates the phosphate market from a production standpoint. ^[3][4]

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