The Mosaic Company (NYSE:MOS) reported its results for the second quarter. Net income for the agricultural chemicals company fell to $623.6 million ($1.40 per share) vs. $1.03 billion ($2.29 per share) a year earlier. This is a decline of 39.2% from the year earlier quarter. Revenue  rose 12.7% to $3.01 billion from the year earlier quarter. MOS beat the mean analyst estimate of $1.30 per share. It beat the average revenue estimate of $2.54 billion.

“Our excellent results demonstrate the strength of underlying agricultural fundamentals combined with effective execution by our businesses,” said Jim Prokopanko, President and Chief Executive Officer of Mosaic. “While we expect third quarter results to decline due to near-term macroeconomic uncertainty and cautious distributor purchasing behavior, we remain confident of the strong long-term demand prospects for our products. In this environment, we continue to focus on generating value by executing our strategy.”

Competitors to Watch: Potash Corp./Saskatchewan (NYSE:POT), Agrium Inc. (NYSE:AGU), CF Industries Hldgs., Inc. (NYSE:CF), Intrepid Potash, Inc. (NYSE:IPI), Earth Sciences, Inc. (ESCI), Converted Organics Inc. (NASDAQ:COIN), and Lifosa AB (LFO1L).

Monsanto Company (NYSE:MON) reported net income above Wall Street’s expectations for the first quarter. Net income for the agricultural chemicals company rose to $126 million (23 cents per share) vs. $9 million (2 cents per share) in the same quarter a year earlier. This marks a substantial increase from the year earlier quarter. Revenue rose 33.3% to $2.44 billion from the year earlier quarter. MON beat the mean analyst estimate of 19 cents per share. It beat the average revenue estimate of $2.04 billion.

“We’ve seen a very strong start to the year, with real growth in Latin America and early orders in the United States that underscore our sustained momentum carrying into 2012,” said Hugh Grant, chairman, president and chief executive officer for Monsanto. “We are pleased growers have recognized the value of our products and the benefits they provide on farm. Our pipeline progress continues to be a competitive differentiator, and that’s ever more important as we put an even greater focus on delivering yield to growers.”

Competitors to Watch: Syngenta AG (NYSE:SYT), The Scotts Miracle-Gro Co. (NYSE:SMG), The Dow Chemical Company (NYSE:DOW), FMC Corporation (NYSE:FMC), The Mosaic Company (NYSE:MOS), American Vanguard Corp. (NYSE:AVD), CF Industries Hldgs., Inc. (NYSE:CF), IGENE Biotechnology, Inc. (IGNE), TyraTech, Inc. (TYR), and Origin Agritech Ltd. (NASDAQ:SEED).

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