The calendar quarter winds down this week and quarterly reports are due from Apollo Group (APOL), CarMax (KMX), Global Payments (GPN), Krispy Kreme (KKD), Lennar (LEN) and McCormick (MKC). But analysts surveyed by Thomson Reuters have high hopes for results from fertilizer and animal feed maker Mosaic (MOS), apparel maker Phillips Van Heusen (PVH) and discount retailer Family Dollar (FDO). So here's a look at what they anticipate from these three companies.

Mosaic

During its fiscal second quarter, Cargill agreed to distribute its stake in Mosaic, and Mosaic also said it would redeem senior notes. Analysts anticipate that the Minnesota-based potash producer will report per-share earnings of $1.07, a jump of 53.3% from the same quarter of last year. Mosaic also is expected to post revenue of $2.4 billion for the three months that ended in February. That's a 35.9% rise from a year earlier.

There's a catch-22 in world food supply and demand. The demand for food from developing nations is putting pressure on supplies across the globe. But governments are getting increasingly nervous and worried about unrest. To try and preempt civil disturbances, governments have stepped in and are buying food staples. This government buying is driving prices still higher.

Algeria and Saudi Arabia have announced extraordinary purchases of wheat, driving prices to a two and a half year high. Last week Algeria bought 600,000 tons of wheat, much more than usual. Saudi Arabia announced plans to double the size of its wheat stockpile.

Chinese Vice Minister of Commerce, Wang Chao, led a business delegation that signed agreements with grain companies to buy just over 3 million tons of soybeans from the U.S., Reuters reported. The U.S. trading companies involved in the $1.8 billion deal are Cargill, Archer Daniels Midland (ADM) and Bunge (BG). No details about price and delivery were given.

When dealing with state-run companies, there is a protocol that must be followed. In this case, a government official, Chao, was present to sign off the deal with the two state-run grain companies allowed to import agricultural products into China.

When you think commodities, you think Cargill. Cargill is the largest U.S. private company. It is one of the world's largest commodity processors and traders. Cargill plays both the cash and futures sides of the markets. It buys cash crops from farmers and processes them, and at the same time hedge and trades commodity futures. Being able to operate in both cash and futures markets places them number one. Competitors include Archer Daniels Midland (ADM) and Bunge (BG.)

The large harvests and strong export markets worked in Cargill's favor. It tripled its profits to $1.49 billion in the quarter ended November 30, from $489 million a year ago, as reported in the Wall Street Journal.

At least this recall was not for something made in China. The Sam's Club unit of Wal-Mart Stores Inc. (NYSE: WMT) said that beef from agribusiness giant Cargill might contain E. coli that cause intestinal illness.

According to the Associated Press, "Cargill learned of the issue Friday, when a compliance officer from the federal Agriculture Department visited the company's ground beef facility in Butler, Wis., Klein said. Officials had traced the patties back to that plant."

Of course, the fact that the meat came from Cargill does not do Sam's Club much good. Few consumers look beyond the brand of the retail outlet when a generic product like beef is recalled.

The news showed that no matter how vigilant U.S. companies are, they remain dependent on their suppliers both for goods and services, and, ultimately, their reputations. Mattel Inc. (NYSE: MAT) has learned that the hard way as it struggles to get out from the damage done to its reputation by the sale of lead-painted toys built in China.

No big retail company has enough inspectors, or can afford enough, to make certain that each item it sells is OK. The Chinese may make bad toys, but it appears that the U.S. has made some bad meat.

Douglas A. McIntyre is a partner at 24/7 Wall St.

Agrium (NYSE: AGU) volatility is flat as AGU at record high on strong fertilizer demand. AGU, an agricultural retailer and fertilizer producer, closed at $54.38. AGU over all option implied volatility of 39 is near its 26-week average of 38 according to Track Data, suggesting nondirectional risk.

Terra Industries (NYSE: TRA) volatility is flat; TRA is near record on demand for nitrogen. TRA, an international producer of nitrogen products for industry and agriculture, closed at $31.26. TRA is expected to report EPS on 10/25. TRA over all option implied volatility of 52 is near its 26-week average of 50 according to Track Data, suggesting nondirectional risk.

Option update provided by Stock Specialist Paul Foster of theflyonthewall.com.

The Mosaic Company (NYSE: MOS) volatility elevated as MOS at record high into EPS.

MOS, a producer and marketer of concentrated phosphate and potash crop nutrients, was spun out of Cargill in 2004. MOS is recently up 10 cents to $53.35. MOS is expected to report earnings per share (EPS) on October 9th. MOS October option implied volatility of 52 was above its 26-week average of 40 according to Track Data, suggesting larger price risks.

Potash Corp./Saskatchewan (USA) (NYSE: POT) volatility elevated as POT at record high on grain price rally:

POT, the world's largest fertilizer enterprise, by capacity, was recently up $1.43 to $105.58. SBSH says "Potash shortages possible in 2008." SBSH goes on to say "we think high prices for wheat and corn will send a signal to farmers in developing countries like China to increase Potash application rates." POT over all option implied volatility of 46 is above its 26-week average of 39 according to Track Data, suggesting larger price risks.

Option update provided by Stock Specialist Paul Foster of theflyonthewall.com.

Update; The Chinese government has since claimed that a reporter faked the circumstances related in this report. A Gadling writer questions the government's credibility, though, and I share his skepticism.

The food fight between China and the U.S. ratcheted up a notch last week, or so it seems. China has blocked imports of some American chicken and pork after detecting bacteria or chemical contamination. This strikes me as ironic since at the same time, Chinese street vendors sell treats consisting mostly of cardboard.

The Chinese meat import market, served by, among others, Tyson Foods (NYSE: TSN) and Cargill, is already suffering a pork shortage, (and threatening to dip into its strategic pork reserve).

In a related story, AP wrote last week on a China Central Television report highlighting the country's problems with food safety. State TV's undercover investigation witnessed sidewalk vendors preparing their popular steamed bun using a mixture of 60% chemical-soaked cardboard to stretch the usual sliced pork and spices. The investigator found the result rather flavorless.

Perhaps there is an export market for used White Castle hamburger sleeves? They would be full of flavor.

Coca-Cola (NYSE: KO) and Cargill have come up with a new calorie free sweetener. And, it is "all natural" so that consumers do not have to worry that they will get lead poisoning or worse.

The product is called rebiana and it comes from the South American herb called stevia, according to The Wall Street Journal (subscription required). Its appeal may end up being that it is simply different from most of the synthetic products on currently on the market.

Unfortunately, one study done on the herb used in the new product found that it caused mutations in rat livers. Since rats are almost impossible to kill, the results would seem to be a drawback. In humans, at least, the liver is still a fairly important organ. The herb is much sweeter than sugar, so much smaller amounts work as an additive.

With rats dropping like flies, it would seem that the new product will not be much of a threat. Ask the Vioxx people.

The synthetic sweetener crowd can sleep safe in their beds.

Douglas A. McIntyre is a partner at 24/7 Wall St.