PotashCorp is reporting earnings for the second quarter of the fiscal year thanks to improved market conditions.

Shares jumped by $0.24, that includes an $0.08 per share income tax provision recovery, overall shares have increased $0.42 per share this year. Both these statistics are upgrades over last year, in 2016 those values were $0.14 per share and $0.23 per share respectively.

"In the second quarter, we continued to benefit from stronger potash market conditions and our improved cost position in this nutrient," stated PotashCorp President and Chief Executive Officer Jochen Tilk in a news release Friday.

"Robust potash demand - especially in offshore markets, where Canpotex- achieved its second highest first-half shipment total - supported a constructive market and is expected to carry through the remainder of the year. We anticipate more subdued nitrogen and phosphate markets in the second half to offset strength in potash and, as a result, have maintained our full-year earnings guidance range."

The fertilizer ingredient producing giant expects their merger equals with Agrium to close late in the third quarter of this year. The company will then change their name to Nutrien.

They expect potash demand to continue to be strong for the remainder of the year, their shipment goal is estimated at 62-65 million tonnes, that's well above the 60 million tonnes delivered a year ago.