May 6, 2020 / 9:58 PM / a month ago

Nutrien lowers 2020 forecast as oil crash hits corn demand

May 6 (Reuters) - Canadian fertilizer maker Nutrien Ltd said on Wednesday it has seen limited impact from the coronavirus outbreak, but cut its annual forecast as oil downturn hit corn demand.

The company said it now expects 2020 adjusted earnings to be between $1.50 per share and $2.10 per share, below the prior range of $1.90 per share to $2.60 per share.

The world’s largest potash producer by capacity posted an adjusted loss of 12 cents per share in the first quarter ended March 31. (Reporting by Shariq Khan in Bengaluru; Editing by Arun Koyyur)

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