North America’s second-largest fertilizer producer said its first-quarter profit trailed analysts’ estimates. Net income rose 77 percent to $526 million, or $1.17 a share, the Minnesota company said. Analysts projected net income of $1.31 a share. Rising prices for ammonia and sulfur, raw materials used to make fertilizer, partially offset higher prices for manufactured phosphate. Its shares slipped further after the US government said pre-harvest corn inventories fell less than analysts forecast.