<PAGE>
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                  SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C.  20549
                         -----------------------
                                   
                               FORM 10-Q
                                   
                                   
                                   
          QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                  THE SECURITIES EXCHANGE ACT OF 1934

             For the quarterly period ended June 30, 1998
                                   
                     Commission file number 1-9759
                                   
                                   
                            IMC GLOBAL INC.
        (Exact name of Registrant as specified in its charter)
                                   
                                   
               Delaware                           36-3492467
     (State or other jurisdiction of          (I.R.S. Employer
     incorporation or organization)           Identification No.)


     2100 Sanders Road
     Northbrook, Illinois                           60062
     (Address of principal executive offices)     (Zip Code)


 Registrant's telephone number, including area code:  (847) 272-9200
                                   


Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the Registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.
  Yes   X   .  No       .
      ------      ------


APPLICABLE ONLY TO CORPORATE ISSUERS:  Indicate the number of shares
outstanding of each of the issuer's classes of common stock as of the
latest practicable date:  114,327,797 shares, excluding 10,738,520
treasury shares as of August 11, 1998.



  ------------------------------------------------------------------
----------------------------------------------------------------------

<PAGE>
PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements.

   The accompanying interim condensed consolidated financial statements
of IMC Global Inc. (Company) do not include all disclosures normally
provided in annual financial statements.  These financial statements,
which should be read in conjunction with the consolidated financial
statements contained in the Company's Annual Report on Form 10-K for
the year ended December 31, 1997, are unaudited but include all
adjustments which the Company's management considers necessary for a
fair presentation.  These adjustments consist of normal recurring
accruals except as discussed in the following Notes to Condensed
Consolidated Financial Statements.  Certain 1997 amounts have been
reclassified to conform to the 1998 presentation.  Interim results are
not necessarily indicative of the results expected for the full year.

<TABLE>
CONDENSED CONSOLIDATED STATEMENT OF EARNINGS
(In millions except per share amounts)
<CAPTION>
                                 Three months ended   Six months ended
                                      June 30,           June 30,
                                   1998      1997     1998      1997
-----------------------------------------------------------------------
<S>                              <C>       <C>       <C>       <C>
Net sales                       $1,221.8  $1,048.2  $1,898.6  $1,713.0
Cost of goods sold                 927.9     789.7   1,431.5   1,283.0
                                 --------  --------  -------- --------
 Gross margins                     293.9     258.5     467.1     430.0

Selling, general and
 administrative expenses            83.7      69.4     148.0     132.6
Exploration expenses                 9.4       -        18.9       -
                                 --------  --------  -------- --------
 Operating earnings                200.8     189.1     300.2     297.4

Interest expense                    59.6      12.5      83.7      25.2
Other (income) expense, net         (4.8)      1.3      (8.9)      -
                                 --------  --------  -------- --------
 Earnings before minority
  interest                         146.0     175.3     225.4     272.2
Minority interest                   11.8      36.2      17.2      71.5
                                 --------  --------  -------- --------
 Earnings before taxes             134.2     139.1     208.2     200.7
Provision for income taxes          47.2      50.8      73.2      73.3
                                 --------  --------  -------- --------
 Earnings before extraordinary
  item                              87.0      88.3     135.0     127.4
Extraordinary charge -
 debt retirement                     -        (3.3)     (2.7)     (3.3)
                                 --------  --------  -------- --------
 Net earnings                   $   87.0  $   85.0  $  132.3 $   124.1
                                 ========  ========  ======== ========

Basic earnings per share:
 Earnings before extraordinary
 item                           $   0.76  $   0.94  $   1.18  $   1.34
 Extraordinary charge -
  debt retirement                   -        (0.03)   (0.02)     (0.03)
                                 --------  --------  -------- --------
   Net earnings per share       $   0.76  $   0.91 $   1.16   $   1.31
                                 ========  ========  ======== ========

Basic weighted average number
 of shares outstanding             114.3      93.9     114.1      94.6

Diluted earnings per share:
 Earnings before extraordinary
  item                          $   0.76  $   0.93  $   1.18  $   1.33
                                 --------  --------  -------- --------
 Extraordinary charge - debt
  retirement                        -        (0.03)   (0.02)     (0.03)
                                 --------  --------  -------- --------
   Net earnings per share       $   0.76  $   0.90  $   1.16 $   1.30
                                 ========  ========  ======== ========

Diluted weighted average number
 of shares outstanding             115.0      94.9     114.8      95.6

 (See Notes to Condensed Consolidated Financial Statements on Page 5)
</TABLE>
<PAGE>
<TABLE>
CONDENSED CONSOLIDATED BALANCE SHEET
(Dollars in millions except per share amounts)
<CAPTION>
                                              June 30,    December 31,
Assets                                          1998          1997
----------------------------------------------------------------------
<S>                                           <C>            <C>
Current assets:
 Cash and cash equivalents                    $  139.8       $  109.7
 Receivables, net                                497.4          288.1
 Inventories                                     652.7          592.8
 Deferred income taxes                            90.9           54.2
 Other current assets                             26.0           17.4
                                              --------       --------
   Total current assets                        1,406.8        1,062.2
Property, plant and equipment, net             3,681.2        2,506.0
Other assets                                   1,653.1        1,105.7
                                              --------       --------
Total assets                                  $6,741.1       $4,673.9
                                              ========       ========


Liabilities and Stockholders' Equity
----------------------------------------------------------------------
Current liabilities:
 Accounts payable                             $  296.3       $  253.3
 Accrued liabilities                             352.4          230.9
 Short-term debt and current maturities
  of long-term debt                            1,294.1          188.9
                                              --------       --------
   Total current liabilities                   1,942.8          673.1
Long-term debt, less current maturities        1,639.1        1,235.2
Deferred income taxes                            646.5          389.7
Other noncurrent liabilities                     475.4          440.2
Stockholders' equity:
 Common stock, $1 par value, authorized
  300,000,000 shares; issued 125,058,361
  and 124,668,286 shares at June 30 and
  December 31, respectively                      125.0          124.6
 Capital in excess of par value                1,695.1        1,690.3
 Retained earnings                               560.2          446.2
 Accumulated other comprehensive income          (46.8)         (30.8)
 Treasury stock, at cost, 10,738,520 and
  10,691,520 shares at June 30 and
  December 31, respectively                     (296.2)        (294.6)
                                              --------       --------
   Total stockholders' equity                  2,037.3        1,935.7
                                              --------       --------
Total liabilities and stockholders' equity    $6,741.1       $4,673.9
                                              ========       ========


                                   
                                   
                                   
                                   
 (See Notes to Condensed Consolidated Financial Statements on Page 5)
</TABLE>
<PAGE>
<TABLE>
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(In millions)
<CAPTION>
                                                   Six months ended
                                                       June 30,
                                                   1998        1997
----------------------------------------------------------------------
Cash Flows from Operating Activities
------------------------------------
<S>                                               <C>       <C>
 Net earnings                                     $ 132.3     $ 124.1
 Adjustments to reconcile net earnings to net
  cash provided by operating activities:
   Depreciation, depletion and amortization         124.6       100.5
   Minority interest                                 17.2        71.5
   Deferred income taxes                            (56.7)       48.9
   Other charges and credits, net                   (80.4)      (13.6)
   Changes in:
     Receivables                                    (53.8)     (140.2)
     Inventories                                     46.7        59.5
     Other current assets                            43.0        (3.1)
     Accounts payable                               (66.5)       28.9
     Accrued liabilities                            105.2        24.1
                                                  -------     -------
   Net cash provided by operating activities        211.6       300.6
                                                  -------     -------

Cash Flows from Investing Activities
------------------------------------
 Capital expenditures                              (174.0)     (105.0)
 Acquisitions of businesses, net of
  cash acquired                                    (393.3)      (48.6)
 Proceeds from sale of business                      44.8         -
 Proceeds from sales of property, plant
  and equipment                                       5.1         1.9
                                                  -------     -------
   Net cash used in investing activities           (517.4)     (151.7)
                                                  -------     -------
   Net cash provided (used) before financing
    activities                                     (305.8)      148.9
                                                  -------     -------

Cash Flows from Financing Activities
------------------------------------
 Joint venture cash distributions to
  Phosphate Resource Partners Limited
  Partnership, net                                  (37.0)      (96.6)
 Payments of long-term debt                        (842.6)      (35.9)
 Proceeds from issuance of long-term debt, net      912.1        71.3
 Changes in short-term debt, net                    332.0        15.1
 Decrease in securitization of accounts
  receivable, net                                   (15.8)       (6.2)
 Stock options exercised                              8.6         3.4
 Cash dividends paid                                (18.3)      (15.0)
 Purchase of treasury stock                          (3.1)     (105.1)
                                                  -------     -------
   Net cash provided by (used in)
    financing activities                            335.9      (169.0)
                                                  -------     -------

Net change in cash and cash equivalents              30.1       (20.1)
Cash and cash equivalents - beginning
 of period                                          109.7        63.3
                                                  -------     -------
Cash and cash equivalents - end of period         $ 139.8     $  43.2
                                                  -------     -------

                                   
 (See Notes to Condensed Consolidated Financial Statements on Page 5)
</TABLE>
<PAGE>
<TABLE>
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
(In millions except per share amounts)
<CAPTION>
                                                  Six months ended
                                                       June 30,
                                                   1998        1997
---------------------------------------------------------------------
<S>                                             <C>          <C>
Common stock:
 Balance at December 31                          $  124.6    $  101.6
 Stock options exercised                              0.4         0.2
                                                 --------    --------
   Balance at June 30                               125.0       101.8

Capital in excess of par value:
 Balance at December 31                           1,690.3       936.1
 Restricted stock awards                              0.3         -
 Issuance of common stock pursuant to acquisitions    -           7.7
 Stock options exercised                              6.4         3.2
 Other                                               (1.9)        -
                                                 --------    --------
   Balance at June 30                             1,695.1       947.0

Retained earnings:
 Balance at December 31                             446.2       413.0
 Net earnings                                       132.3       124.1
 Dividends ($.16 per share in 1998 and 1997)        (18.3)      (15.0)
                                                 --------    --------
   Balance at June 30                               560.2       522.1

Accumulated other comprehensive income:
 Balance at December 31                             (30.8)      (17.2)
 Foreign currency translation adjustment,
  net of taxes                                      (16.0)       (1.6)
                                                 --------    --------
   Balance at June 30                               (46.8)      (18.8)

Treasury stock:
 Balance at December 31                            (294.6)     (107.3)
 Restricted stock awards                              1.5         -
 Issuance of common stock pursuant to acquisitions    -           0.2
 Purchase of treasury stock                          (3.1)     (105.1)
                                                 --------    --------
   Balance at June 30                              (296.2)     (212.2)
                                                 --------    --------

Total stockholders' equity at June 30            $2,037.3    $1,339.9
                                                 ========    ========



                                   
 (See Notes to Condensed Consolidated Financial Statements on Page 5)
</TABLE>
<PAGE>
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in millions except per share amounts)

1. Acquisitions
   ------------
Harris
   In April 1998, the Company completed its previously announced
acquisition of privately held Harris Chemical Group, Inc. and its
Australian affiliate, Harris Chemical Australia Pty Ltd. & Its
Controlled Entities (collectively, Harris), for approximately $1.4
billion (Harris Acquisition).  Under the terms of the Harris
Acquisition, the Company purchased all Harris equity for approximately
$450.0 million in cash and assumed approximately $950.0 million of
debt.  Harris, with annual sales of approximately $800.0 million, is a
leading producer of salt, soda ash, boron chemicals and other inorganic
chemicals, including potash crop nutrients.

   For financial statement purposes the acquisition was accounted for
as a purchase and, accordingly, Harris' results are included in the
consolidated financial statements since the date of acquisition.  The
purchase price, which was financed through proceeds borrowed under
credit facilities, has been allocated to acquired assets and
liabilities based on estimated fair values at the date of acquisition.
This allocation resulted in an excess of purchase price over
identifiable net assets acquired, or goodwill, of approximately $457.0
million and is included in Other assets in the Condensed Consolidated
Balance Sheet.  This goodwill is being amortized on a straight-line
basis over 40 years.

   The unaudited pro forma information for the periods set forth below
gives effect to the acquisition as if it had occurred as of January 1,
1997.  The pro forma information is presented for informational
purposes only and is not necessarily indicative of the results of
operations that actually would have been achieved had the acquisition
been consummated as of that time.
<TABLE>
<CAPTION>
                                                  Six months ended
                                                     June 30,
                                                  1998      1997
                                                  ----      ----
<S>                                             <C>       <C>
Net sales                                      $2,125.8  $2,126.3
Earnings before extraordinary item                140.6      84.4
Net earnings                                      135.4      81.1

Diluted earnings per share:
   Earnings before extraordinary item           $   1.22 $  0.71
   Net earnings per share                           1.18    0.69
</TABLE>

1997 Acquisitions
   During the six months ended June 30, 1997, the Company completed
several acquisitions, including retail distribution operations (Crop-
Maker, Frankfort Supply, Sanderlin, and Hutson Ag Services, Inc.) and
Hutson Company, Inc., a storage terminal company.  Total cash payments
for acquisitions during the six months ended June 30, 1997 were $48.6

<PAGE>
million, and approximately 200,000 shares of common stock of the
Company were issued for $7.9 million.

   The acquisitions for the six months ended June 30, 1997 were also
accounted for under the purchase method of accounting and, accordingly,
the results for the acquired businesses are included in the
consolidated financial statements since the respective dates of
acquisition.  Pro forma consolidated operating results for the six
months ended June 30, 1997, reflecting these acquisitions from the
beginning of that period, would not have been materially different from
reported amounts.

2. Divestitures
   ------------
   Effective June 1, 1998, the Company completed the sale of its IMC
Vigoro business unit which consisted primarily of consumer lawn and
garden and professional products to privately held Pursell Industries,
Inc. for $44.8 million in cash.  In connection with the transaction,
the Company recorded a one-time restructuring charge of approximately
$14.0 million, $9.1 million after tax benefits or $0.08 per share.

   In June 1998, the Company announced plans to explore strategic
options, including divestiture, for its IMC AgriBusiness business unit.
Any sale would be subject to certain conditions including the execution
of a definitive agreement and the receipt of certain approvals.

3. Extraordinary Charge - Debt Retirement
   --------------------------------------
   In January 1998, the Company prepaid $120.0 million of unsecured
term loans which bore interest at rates ranging between 7.12 percent
and 7.18 percent and which were to mature at various dates between 2000
and 2005.  In connection with the prepayment of such unsecured term
loans, the Company recorded an extraordinary charge, net of taxes, of
$2.7 million for redemption premium incurred.  This prepayment was
financed by net debt proceeds from the issuance in January 1998 of
$150.0 million 6.55 percent senior notes due 2005 and $150.0 million
7.30 percent debentures due 2028.

   In May 1997, the Company purchased certain senior notes from a
single holder and recorded an extraordinary charge, net of taxes, of
$3.3 million for redemption premiums incurred and the write-off of
previously deferred finance charges.  The repurchase of the senior
notes was financed at lower interest rates under the Company's credit
facility.

4. Earnings Per Share
   ------------------
   In February 1997, the Financial Accounting Standards Board (FASB)
issued Statement of Financial Accounting Standard (SFAS) No. 128,
"Earnings Per Share."  As a result, the basic and diluted earnings per
share amounts reported for 1998 have been calculated in accordance with
SFAS No. 128.  Similarly, all earnings per share amounts reported for
prior periods have been restated to comply with this statement.
<PAGE>
   The following table sets forth the computation of basic and diluted
earnings per share:
<TABLE>
<CAPTION>
                                   Three months ended  Six months ended
                                         June 30,         June 30,
                                     1998     1997      1998     1997
                                     ----     ----      ----     ----
<S>                                <C>       <C>       <C>     <C>
Basic earnings per share computation:
 Earnings available before
  extraordinary item               $  87.0   $  88.3   $ 135.0 $ 127.4
 Extraordinary charge - debt
 retirement                            -        (3.3)     (2.7)   (3.3)
                                   -------   -------   ------- -------
 Earnings available to common
  stockholders                     $  87.0   $  85.0   $ 132.3 $ 124.1
                                   =======   =======   ======= =======

 Basic weighted average common
  shares outstanding                 114.3      93.9     114.1    94.6

 Earnings per share before
  extraordinary item              $  0.76   $  0.94    $  1.18  $  1.34
 Extraordinary charge - debt
  retirement                           -      (0.03)     (0.02)
(0.03)
                                   -------   -------   ------- -------
 Basic earnings per share         $  0.76   $  0.91    $  1.16  $  1.31
                                   =======   =======   ======= =======

Diluted earnings per share computation:
 Earnings available before
  extraordinary item               $  87.0   $  88.3   $ 135.0 $ 127.4
                                   -------   -------   ------- -------
 Extraordinary charge - debt
  retirement                           -        (3.3)     (2.7)   (3.3)
                                   -------   -------   ------- -------
 Earnings available to common
  stockholders                     $  87.0   $  85.0   $ 132.3 $ 124.1
                                   =======   =======   ======= =======

 Basic weighted average common
   shares outstanding                114.3      93.9     114.1    94.6
 Unexercised stock options             0.7       1.0       0.7     1.0
                                   -------   -------   ------- -------
 Diluted weighted average common
  shares outstanding                 115.0      94.9     114.8    95.6
                                   =======   =======   ======= =======

 Earnings per share before
  extraordinary item              $  0.76   $  0.93    $  1.18 $  1.33
 Extraordinary charge - debt
  retirement                         -        (0.03)     (0.02)  (0.03)
                                   -------   -------   ------- -------
 Diluted earnings per share       $  0.76   $  0.90    $  1.16 $  1.30
                                   =======   =======   ======= =======
</TABLE>
<PAGE>
   Options to purchase approximately 2.6 million and 2.2 million shares
of common stock were outstanding during the six months ended June 30,
1998 and 1997, respectively, but were not included in the computation
of diluted earnings per share because the exercise prices were greater
than the average market price of the common shares and, therefore, the
effect would be antidilutive.

   Additionally, warrants to purchase approximately 8.4 million shares
of common stock were outstanding during 1998 but were not included in
the computation of diluted earnings per share for the same reason as
the options noted above.

5.   Operating Segments
  ------------------
   The Company has chosen to early adopt SFAS No. 131, "Disclosures
about Segments of an Enterprise and  Related Information."
Accordingly, all subsequent reporting periods have been presented on
the same basis for each reportable segment.

   The Company's reportable segments and related accounting policies
are consistent with those disclosed in the Company's Form 10-K for the
year ended December 31, 1997.

   Segment information for 1998 and 1997 was as follows(a)

<TABLE>
<CAPTION>
            IMC-Agrico    IMC        IMC          IMC
          Crop Nutrients Kalium    AgriBusiness Chemicals    Other(d)(e) Total

Three months ended
 June 30, 1998
<S>          <C>          <C>         <C>         <C>         <C>      <C>
Three months ended June 30, 1998
Net sales from external
 customers $  407.0     $  185.8     $428.4      $102.8      $  97.8  $1,221.8
Intersegment net
 sales         49.6         18.7        -           -            -        68.3
Gross margins 116.0         78.6       79.9        12.3          7.1     293.9
Operating
 earnings     106.4         70.9       50.1         6.2        (32.8)    200.8
Total assets at
 June 30, 1998(b)        1,790.8    1,077.2       516.2        441.7   2,915.2
6,741.1

Six months ended June 30, 1998
Net sales from external
 customers   $723.2       $336.0     $568.7      $102.8       $167.9  $1,898.6
Intersegment net
 sales         97.9         44.1        -           -            3.0     145.0
Gross margins 187.3        155.2       99.2        12.3         13.1     467.1
Operating
 earnings     167.5        140.8       42.5         6.2        (56.8)    300.2

<PAGE>
            IMC-Agrico    IMC        IMC          IMC
          Crop Nutrients Kalium    AgriBusiness Chemicals(c) Other(d)(e) Total

Three months ended June 30, 1997
Net sales from external
 customers $  358.6       $134.1     $489.8         -        $  65.7  $1,048.2
Intersegment net
 sales         45.7         15.8        -           -            8.6      70.1
Gross margins  84.7         60.3      102.9         -           10.6     258.5
Operating
 earnings      73.6         54.9       66.8         -           (6.2)    189.1
Total assets at
 June 30, 19971,684.8      769.6      510.0         -          647.2   3,611.6

Six months ended June 30, 1997
Net sales from external
 customers   $670.7       $259.4     $629.7         -         $153.2  $1,713.0
Intersegment net
 sales         89.3         38.8        -           -           22.0     150.1
Gross margins 164.6        115.7      125.1         -           24.6     430.0
Operating
 earnings     142.9        105.2       61.9         -          (12.6)    297.4
</TABLE>
(a)The operating results and assets of Great Salt Lake Minerals (GSL),
   IMC Salt and IMC Chemicals, acquired as part of the Harris
   Acquisition, are included in the segment information presented
   below since the date of acquisition, April 1998.  See Note 1,
   "Acquisitions," of Notes to Condensed Consolidated Financial
   Statements.

(b)The increase in IMC Kalium's total assets as compared to December
   31, 1997 results from the purchase of GSL.

(c)It is impracticable to disclose this data on a restated segment
   basis.

(d)Segment information below the quantitative thresholds is
   attributable to three business units (IMC-Agrico Feed Ingredients,
   IMC Salt and IMC Vigoro) and corporate headquarters.  The Company
   produces and markets animal feed ingredients through IMC-Agrico
   Feed Ingredients.  IMC Salt produces salt for use in road de-icing,
   food processing, water softeners and industrial applications. IMC
   Vigoro manufactures and distributes consumer lawn and garden
   products; produces and markets professional products for turf,
   nursery and horticulture markets; and produces and distributes
   potassium-based ice melter products.  IMC Vigoro was sold in June
   1998.  See Note 2, "Divestitures," of Notes to Condensed
   Consolidated Financial Statements.  Corporate headquarters includes
   the elimination of inter-business unit transactions and oil and gas
   activities through its interest in Phosphate Resource Partners
   Limited Partnership (PLP).

(e)Total assets at June 30, 1998 includes goodwill and step-up of book
   value to fair value of property, plant and equipment recorded in
   accordance with Accounting Principles Board Opinion No. 16 (APB No.
   16) as part of the Harris Acquisition (Purchase Price) in April
   1998.  The Company has not yet completed the Purchase Price
   allocation to or among the impacted business units.

<PAGE>
6. Comprehensive Income
   --------------------
   In June 1997, the FASB issued SFAS No. 130, "Reporting Comprehensive
Income," which is required to be adopted for fiscal years beginning
after December 15, 1997.  Under SFAS No. 130, interim financial
statements are required to report total comprehensive income, net of
taxes, for the period, which is as follows:
<TABLE>
<CAPTION>
                             Three months ended       Six months ended
                                   June 30,               June 30,
                                1998     1997          1998      1997
                                ----     ----          ----      ----
<S>                           <C>       <C>            <C>       <C>
Comprehensive income:
 Net earnings                  $ 87.0    $ 85.0       $132.3    $124.1
 Foreign currency translation
  adjustment                    (18.4)      3.4        (16.0)     (1.6)
                               ------   ------         ------    ------
   Total comprehensive income
    for the period             $ 68.6    $ 88.4       $116.3    $122.5
                               ======   ======         ======    ======
</TABLE>

7. Subsequent Events
   -----------------
   In August 1998, the Company issued $200.0 million of 6.50 percent
notes due 2003 and $100.0 million of 7.375 percent debentures due 2018.
The proceeds of these issuances were used to repay short-term debt,
including commercial paper, and for general corporate purposes.


Item 2.Management's Discussion and Analysis of Financial Condition and
Results of Operations.(1)

Results of Operations
---------------------
Three months ended June 30, 1998 vs. three months ended June 30, 1997
---------------------------------------------------------------------
Overview
   Net sales for the second quarter ended June 30, 1998 were $1,221.8
million and gross margins, before special one-time charges, were $298.0
million.  Earnings, before special one-time charges, were $96.1
million, or $0.84 per share.  Special one-time charges of $9.1 million,
or $0.08 per share, reduced net earnings for the quarter to $87.0
million, or $0.76 per share.  These one-time charges, totaling $14.0
million before tax benefits, related to restructuring charges
associated with the sale of IMC Vigoro, IMC Global Inc.'s (Company)
consumer lawn and garden and professional products businesses.

   Net sales for the second quarter ended June 30, 1997 were $1,048.2
million, gross margins were $258.5 million and earnings, before an
extraordinary charge, were $88.3 million, or $0.93 per share.  An
extraordinary charge of $3.3 million, or $0.03 per share, related to
the early extinguishment of debt, reduced net earnings to $85.0
million, or $0.90 per share.


<PAGE>
   Net sales increased 17 percent from the prior year second quarter
while gross margins, before special one-time charges, increased 15
percent from the same period one year ago.  The improvement was largely
due to strong performances by two of the Company's core businesses
-- IMC Kalium and IMC-Agrico Crop Nutrients.  The sales improvements
were largely attributable to continued strong demand for potash and
phosphate crop nutrients by both domestic and export customers, and
additional revenues from the purchase of Harris Chemical Group, Inc.
and its Australian affiliate, Harris Chemical Australia Pty Ltd. & Its
Controlled Entities (collectively, Harris).  The purchase of Harris is
herein referred to as the "Harris Acquisition."  Substantially
offsetting growth in potash and phosphate revenues were lower net sales
at IMC AgriBusiness, IMC-Agrico Feed Ingredients (Feed Ingredients),
and IMC Vigoro.

   The operating results of the Company's significant business units
are discussed in more detail below.

IMC-Agrico Crop Nutrients
     IMC-Agrico Crop Nutrients' net sales for the second quarter
improved 13 percent to $456.6 million compared to $404.3 million for
the same period last year largely due to increased sales volumes and
higher average sales realizations.  Shipments of concentrated
phosphates, primarily diammonium phosphate (DAP) and granular
monoammonium phosphate (GMAP), increased by $37.9 million from the same
quarter in the prior year.  The higher volumes resulted from an early
start to the spring planting season, an increase in the number of
supply contracts over the comparable period in the prior year and
favorable logistic conditions related to product movement.  Higher
average prices of concentrated phosphates, driven by increased
international DAP realizations as well as an increase in the transfer
price of phosphoric acid sold to Feed Ingredients, positively impacted
net sales by $8.8 million.  See Feed Ingredients discussion below.

     Gross margins increased 37 percent to $116.0 million for the
quarter compared to $84.7 million last year, mainly due to lower
production costs and the higher volumes and prices discussed above.
Production costs decreased compared to the prior year's second quarter
primarily due to lower raw material prices for purchased ammonia and
sulphur.

IMC Kalium
   IMC Kalium's net sales increased 36 percent to $204.5 million in the
current quarter from $149.9 million in the prior year quarter.  The
increase was due to both volume and average sales realization
improvements.  Sales volumes increased $11.3 million when compared to
the same period in the prior year due to increased export sales to
China and Brazil, as well as the acquisition of Great Salt Lake
Minerals (GSL) as part of the Harris Acquisition in April 1998 and the
purchase of Western Ag-Minerals (Western Ag) in September 1997.  This
increase was slightly offset by lower domestic sales as a result of
poor weather conditions.  Average sales realizations increased $43.3
million when compared to last year's second quarter as a result of
multiple price increases.

<PAGE>
   Gross margins increased 30 percent to $78.6 million for the quarter
from $60.3 million in the same period one year ago, primarily due to
the impact of the higher volumes and increased average realizations
discussed above, partially offset by higher production costs.  The
higher production costs were primarily due to additional costs related
to the purchase of GSL as part of the Harris Acquisition in April 1998
and the acquisition of Western Ag in September 1997.

IMC AgriBusiness
   IMC AgriBusiness' net sales decreased 13 percent to $428.4 million
in the current quarter from $489.8 million in the prior year.  Lower
volumes for ammonia, mixed goods and potash, combined with wet field
conditions and weaker average prices for nitrogen solutions and
ammonia, were the primary factors for this decrease.

   Gross margins decreased 22 percent from $102.9 million in the second
quarter one year ago to $79.9 million in the current quarter, primarily
due to the lower volumes and realizations discussed above.

IMC Salt
   IMC Salt's net sales were $40.9 million with gross margins of $7.2
million in the current quarter.  IMC Salt, a new core business for the
Company, was created following the Harris Acquisition.  Current quarter
salt demand was strong among customers in the water conditioning, food
processing and animal feed sectors.


Other
   The addition of IMC Chemicals, as a result of the Harris
Acquisition, increased sales by $102.8 million and gross margins by
$12.3 million.  Offsets to the increases in second quarter sales and
gross margins, as compared to the same period in the prior year, were
primarily the result of lower volumes and average sales realizations at
Feed Ingredients coupled with lower sales at IMC Vigoro as a result of
the divestiture of this business during the second quarter.  See Note
2, "Divestitures," of Notes to Condensed Consolidated Financial
Statements.

Key Statistics
   The following table summarizes the Company's core business sales and
average selling prices for the three months ended June 30:
<TABLE>
<CAPTION>
                                                  1998         1997
                                                  ----         ----
<S>                                               <C>         <C>
Sales volumes (in thousands of short tons(a):
 IMC-Agrico Crop Nutrients                        2,161       1,958
 IMC Kalium                                       2,435       2,278
 IMC Salt                                         1,216         n/a

Average price per ton(b):
 DAP                                               $178        $176
 Potash                                              82          66
 IMC Salt                                            34         n/a
</TABLE>

<PAGE>
(a)  Sales volumes include tons sold captively.  IMC-Agrico Crop
  Nutrients' volumes represent dry product tons, primarily DAP.
(b)Average prices represent sales made FOB mine/plant.
n/aNot applicable as a result of the Harris Acquisition in April 1998.

Selling, General and Administrative Expenses
   Selling, general and administrative expenses increased $4.4 million,
or six percent, to $73.8 million, before special one-time charges of
$9.9 million, for the second quarter compared to $69.4 million one year
ago.  This increase was primarily due to the inclusion of the results
of operations of businesses acquired since June 1997 in the Company's
second quarter 1998 results of operations.  The special one-time
charges related to restructuring charges associated with the
divestiture of IMC Vigoro.  See Note 2, "Divestitures," of Notes to
Condensed Consolidated Financial Statements.

Other (Income) Expense, Net
   Other income for the current quarter increased $6.1 million from the
same period last year to $4.8 million.  The increase was primarily due
to the following: (i) favorable foreign exchange rates; (ii) increased
interest income from interest-bearing cash balances; and (iii) the
absence of losses attributable to oil and gas operations as a result of
the Company's contribution of the Main Pass Block 299 sulphur and oil
operations (Main Pass) to Freeport-McMoRan Sulphur Inc. (FSC) in
connection with Freeport-McMoRan Inc.'s (FTX) merger with the Company
(FTX Merger) in December 1997.

Interest Expense
   Interest expense totaled $59.6 million in the current quarter, an
increase of $47.1 million from the same period in the prior year.  The
increase in interest expense was due to increased activity under
revolver loans along with debt assumed in conjunction with the Harris
Acquisition and the FTX Merger, as well as the issuance of: (i) $150.0
million 6.875 percent senior debentures due 2007 in July 1997; (ii)
$150.0 million 6.55 percent senior notes due 2005 in January 1998; and
(iii) $150.0 million 7.30 percent debentures due  2028 in January 1998.
The increase in interest expense was partially offset by the tender of
higher-interest notes and the early payment of certain unsecured term
loans.

Income Taxes
   The effective income tax rate for the current quarter was 35.2
percent, compared to 36.5 percent for the same period in the prior
year, primarily as a result of increased utilization of foreign tax
credits.

Six months ended June 30, 1998 vs. six months ended June 30, 1997
-----------------------------------------------------------------
Overview
   Net sales for the six months ended June 30, 1998 were $1,898.6
million and gross margins, before special one-time charges, were $471.2
million.  Earnings, before an extraordinary charge and special one-time
charges, were $144.1 million, or $1.26 per share.  An extraordinary
charge of $2.7 million, or $0.02 per share, and special one-time
charges of $9.1 million, or $0.08 per share, reduced net earnings for
the first six months of 1998 to $132.3 million, or $1.16 per share.
The extraordinary charge related to the early extinguishment of debt,
and the special one-time charges, totaling $14.0 million before tax
<PAGE
 benefits, related to restructuring charges associated with the sale of
IMC Vigoro, the Company's consumer lawn and garden and professional
products business.  See Note 2, "Divestitures," of Notes to Condensed
Consolidated Financial Statements.
     
   Net sales for the six months ended June 30, 1997 were $1,713.0
million, gross margins were $430.0 million and earnings, before an
extraordinary charge, were $127.4 million, or $1.33 per share.  An
extraordinary charge of $3.3 million, or $0.03 per share, related to
the early extinguishment of debt, reduced net earnings to $124.1
million, or $1.30 per share.

   Net sales for the first six months of 1998 increased 11 percent when
compared to the first six months of the prior year period while gross
margins, before special one-time charges, increased ten percent from
the comparable period one year ago.  The improvement was largely due to
strong performances by two of the Company's core businesses --IMC
Kalium and IMC-Agrico Crop Nutrients. The net sales improvement was
largely attributable to continued strong demand for potash and
phosphate crop nutrients by both domestic and export customers, and
additional revenues from the former Harris operations.  See Note 1,
"Acquisitions," of Notes to Condensed Consolidated Financial
Statements.  Substantially offsetting growth in potash and phosphate
revenues were lower net sales at IMC AgriBusiness, Feed Ingredients,
and IMC Vigoro.

   The operating results of the Company's significant business units
are discussed in more detail below.


IMC-Agrico Crop Nutrients
     IMC-Agrico Crop Nutrients' net sales for the first six months of
1998 improved eight percent to $821.1 million compared to $760.0
million for the same period last year primarily due to increased
concentrate sales volumes and higher average sales realizations, which
were partially offset by lower urea sales.  Sales volumes of
concentrated phosphates, primarily domestic shipments of DAP and
domestic and international shipments of GMAP, increased by $65.9
million from the same prior year period.  These favorable volume
variances reflected the following factors: (i) an earlier start to the
spring planting season; (ii) an increase in the number of supply
contracts over the prior period; (iii) favorable logistic conditions
related to product movement; and (iv) low inventory levels throughout
the distribution system.  Average sales realizations for the first six
months of 1998 increased slightly as compared to the prior year period
primarily as a result of an increase in the transfer price of
phosphoric acid sold to Feed Ingredients.  In contrast, urea sales for
the current six month period decreased $12.0 million from the prior
year period. This was mainly due to a decrease in volumes sold to a
large customer as well as unfavorable pricing conditions primarily
resulting from China's exit from the market in mid-1997.

   Gross margins increased 14 percent to $187.3 million for the first
six months of 1998 compared to $164.6 million for the first six months
of last year, mainly due to lower production costs and the higher
volumes and prices discussed above.  Production costs decreased
compared to the prior year's first six months primarily as a result of
lower raw material costs for purchased ammonia and sulphur.
<PAGE>
IMC Kalium
   IMC Kalium's six-month net sales increased 27 percent to $380.1
million compared to $298.2 million for the first six months of 1997.
This increase was due to both volume and average sales realization
improvements.  Sales volumes increased over the prior year period by
virtue of increased export sales to China and Brazil as well as the
acquisition of Western Ag in September 1997 and GSL in April 1998.
Average sales realizations increased over the prior year as a result of
multiple price increases.

   Gross margins increased 34 percent to $155.2 million for the first
six months of 1998 from $115.7 million for the same period one year
ago, primarily due to the impact of the higher volumes and increased
average realizations discussed above.

IMC AgriBusiness
   IMC AgriBusiness' net sales decreased ten percent to $568.7 million
for the first six months of 1998 from $629.7 million in the first half
of the prior year.  Lower volumes for ammonia, mixed goods and potash,
combined with wet field conditions and weaker average prices for
nitrogen solutions and ammonia, were the primary factors for this
decrease.

   Gross margins decreased 21 percent from $125.1 million for the six
months ended June 30, 1997 to $99.2 million for the first six months of
1998, primarily due to the lower volumes and average realizations
discussed above.

IMC Salt
   The IMC Salt business unit was established in April 1998 concurrent
with the Harris Acquisition.  See Note 1, "Acquisitions," of Notes to
Condensed Consolidated Financial Statements.  Therefore, results for
the six months ended June 30, 1998 include only second quarter
activity.  See "Three months ended June 30, 1998 vs. three months ended
June 30, 1997" discussion.


Other
   The IMC Chemicals business unit was established in April 1998
concurrent with the Harris Acquisition; consequently results for the
six months ended June 30, 1998 include only second quarter activity.
See Note 1, "Acquisitions," of Notes to Condensed Consolidated
Financial Statements and "Three months ended June 30, 1998 vs. Three
months ended June 30, 1997."

   The remaining offsets to the sales and gross margin increases for
the current year period, as compared to the same period in the prior
year, were primarily the result of lower volumes and average sales
realizations at Feed Ingredients coupled with lower sales at IMC Vigoro
as a result of the divestiture of this business during the second
quarter.  See Note 2, "Divestitures," of Notes to Condensed
Consolidated Financial Statements.
<PAGE>
Key Statistics
   The following table summarizes the Company's core business sales and
average selling prices for the six months ended June 30:
<TABLE>
<CAPTION>
                                                  1998         1997
                                                  ----         ----
<S>                                               <C>         <C>
Sales volumes (in thousands of short tons)(a):
 IMC-Agrico Crop Nutrients                        3,919       3,568
 IMC Kalium                                       4,722       4,475
 IMC Salt c                                       1,216         n/a

Average price per ton(b):
 DAP                                               $175        $177
 Potash                                              80          67
 IMC Salt(c)                                         34         n/a
</TABLE>
(a)Sales volumes include tons sold captively.  IMC-Agrico Crop
   Nutrients' volumes represent dry product tons, primarily DAP.
(b)Average prices represent sales made FOB mine/plant.
(c)Results reflect activity for the second quarter only as a result of
   the Harris Acquisition.  See Note 1, "Acquisitions," of Notes to
   Condensed Consolidated Financial Statements.
n/aNot applicable as a result of Harris Acquisition in April 1998.

Selling, General and Administrative Expenses
   Selling, general and administrative expenses increased $5.5 million,
or four percent, to $138.1 million, before special one-time charges of
$9.9 million, for the first six months of 1998 compared to $132.6
million for the first six months of 1997.  This increase was primarily
due to the inclusion of the results of operations of businesses
acquired since June 1997 in the Company's six month 1998 results of
operations.  The special one-time charges related to restructuring
charges associated with the divestiture of IMC Vigoro.  See Note 2,
"Divestitures," of Notes to Condensed Consolidated Financial
Statements.

Other (Income) Expense, Net
   Other income for the six months ended June 30, 1998 increased $8.9
million from the same period in the prior year.  The increase was
primarily due to the following: (i) favorable foreign exchange rates;
(ii) increased interest income from interest-bearing cash balances;
(iii) income received from interest rate locks associated with January
1998 debt issuances; and (iv) the absence of losses attributable to oil
and gas operations as a result of the Company's contribution of Main
Pass to FSC in connection with the FTX Merger.

Interest Expense
   Interest expense totaled $83.7 million for the first six months of
1998, an increase of $58.5 million from the same period in the prior
year.  The increase in interest expense was due to increased activity
under revolver loans along with debt assumed in conjunction with the
Harris Acquisition and the FTX Merger as well as the issuance of: (i)
$150.0 million 6.875 percent senior debentures due 2007 in July 1997;
(ii) $150.0 million 6.55 percent senior notes due 2005 in January 1998;
and (iii) $150.0 million 7.30 percent debentures due  2028 in January
1998.  The increase in interest expense was partially offset by the
<PAGE>
 tender of higher-interest notes and the early payment of certain
unsecured term loans.

Income Taxes
   The effective income tax rate for the first six months of 1998 was
35.2 percent, compared to 36.5 percent for the same period in the prior
year, primarily as a result of increased utilization of foreign tax
credits.

Capital Resources and Liquidity
-------------------------------
Liquidity and Operating Cash Flow
   Cash generated from operating activities decreased $89.0 million in
the first six months of 1998 to $211.6 million.  The decrease was
primarily due to: (i) a reduction in minority interest as a result of
the Company's increased ownership in IMC-Agrico Company (IMC-Agrico)
resulting from the FTX Merger; (ii) higher deferred income taxes
recorded in the current year as a result of the Harris Acquisition; and
(iii) lower accounts payable balances as a result of increased payments
of obligations.  Also, when compared to December 31, 1997, the
Company's working capital ratio decreased to 0.7:1 at June 30, 1998
from 1.6:1 at December 31, 1997, primarily due to the assumption of
short-term debt in conjunction with the Harris Acquisition in April
1998.  See "Financing" for further details.

   Net cash used in investing activities increased $365.7 million over
1997 levels primarily due to acquisitions and increased capital
expenditures, partially offset by proceeds from the sale of IMC Vigoro.
Acquisitions increased to $393.3 million for the current period
compared to $48.6 million for the same period one year ago.  Proceeds
from the sale of IMC Vigoro were $44.8 million.  See Note 1,
"Acquisitions," and Note 2, "Divestitures," of Notes to Condensed
Consolidated Financial Statements.  Capital expenditures for the first
six months of 1998 increased $69.0 million when compared with the first
six months of the prior year primarily due to the following: (i)
Phosphate Resource Partners Limited Partnership's (PLP) share of
McMoRan Oil & Gas Company (MOXY) exploration and development costs of
$33.6 million; and (ii) enterprise-wide systems development
expenditures of $17.7 million.

   Cash from financing activities increased $504.9 million for the
first six months of 1998 when compared with the comparable period in
the prior year from a use of funds of $169.0 million to a source of
funds of $335.9 million at June 30, 1998.  This increase in funds
available was primarily due to higher net debt proceeds for the current
year period of $341.4 million and decreased stock repurchases of $102.0
million.  The net debt proceeds were used, in part, to finance the
Harris Acquisition which was funded through the Company's commercial
paper borrowings.  Debt to total capitalization increased to 59.0
percent from 42.4 percent at December 31, 1997, primarily as a result
of increased commercial paper borrowings and the prepayment of certain
unsecured loans in January 1998.  See "Financing" below for further
details.  Additionally, net PLP distributions decreased $59.6 million
as a result of the Company's increased ownership in IMC-Agrico due to
the FTX Merger, further impacting cash generated from financing
activities.


<PAGE>
Financing
    The Company has credit facilities with a group of banks from which
it and certain of its subsidiaries may borrow up to $1,350.0 million on
a revolving basis under two separate agreements (Revolving Credit
Facilities) expiring in December 1998 and March 1999, and $650.0
million under a long-term revolving credit facility (Long-Term Credit
Facility) expiring in December 2002.  As of June 30, 1998, commitment
fees associated with the Revolving Credit Facilities were 7.5 basis
points and 11.0 basis points for the Long-Term Credit Facility.

   The credit facilities described above (collectively, Credit
Facilities), support the Company's commercial paper borrowings and are
available for other corporate purposes.  The amount available for
borrowing under the Credit Facilities is reduced by the balance of
outstanding commercial paper.

   Simultaneously with the consummation of the FTX Merger, the Company
and its Canadian subsidiaries entered into a credit facility with a
group of banks to borrow up to $100.0 million under a revolving credit
facility (Canadian Facility) that will expire in December 2002.  The
Company guarantees all loans made to its subsidiaries under the
Canadian Facility.  As of June 30, 1998, commitment fees associated
with the Canadian Facility were 11.0 basis points.

   During June 1998, $0.2 million of $355.9 million 10.75 percent
senior subordinated notes due 2003, and $3.1 million of $104.3 million
8.50 percent senior notes due 2000 were presented for purchase by
holders of the notes.  These notes were assumed by the Company as part
of the Harris Acquisition and were adjusted to fair value as of the
acquisition date in accordance with Accounting Principles Board Opinion
No. 16.

   In April 1998, the Company acquired Harris for a total purchase
price of $1.4 billion.  As a result, the Company assumed approximately
$950.0 million of debt and paid approximately $450.0 million for the
equity of Harris, the payment of which was funded by commercial paper
borrowings.  See Note 1, "Acquisitions," of Notes to Condensed
Consolidated Financial Statements.

   In January 1998, the Company prepaid $120.0 million of unsecured
term loans to reduce its higher-cost indebtedness.  See Note 3,
"Extraordinary Charge - Debt Retirement," of Notes to Condensed
Consolidated Financial Statements.

   In May 1997, the Company completed a tender offer to purchase
portions of its higher-cost senior notes.  See Note 3, "Extraordinary
Charge - Debt Retirement," of Notes to Condensed Consolidated Financial
Statements.

Recent Development
   In August 1998, the Company issued $200.0 million of 6.50 percent
notes due 2003 and $100.0 million of 7.375 percent debentures due 2018.
The proceeds of these issuances were used to repay short-term debt,
including commercial paper, and for general corporate purposes.


<PAGE>
Item 3.  Market Risk.

   The Company is exposed to the impact of interest rate changes,
fluctuations in the Canadian currency, and fluctuations in the purchase
price of natural gas consumed in operations, as well as changes in the
market value of its financial instruments.  The Company periodically
enters into derivatives in order to minimize these risks, but not for
trading purposes.  At June 30, 1998, the Company's exposure to these
market risk factors was not significant and had not materially changed
from December 31, 1997.

Part II.  OTHER INFORMATION

Item 1.  Legal Proceedings.(1)

Potash Antitrust Litigation
---------------------------
   The Company was a defendant, along with other Canadian and United
States potash producers, in a class action antitrust lawsuit filed in
federal court in 1993.  The plaintiffs alleged a price-fixing
conspiracy among North American potash producers beginning in 1987 and
continuing until the filing of the complaint.  The class action
complaint against all defendants, including the Company, was dismissed
by summary judgment in January 1997.  The summary judgment dismissing
the case is currently on appeal by the plaintiffs to the United States
Court of Appeals for the Eighth Circuit (Court of Appeals).  The Court
of Appeals is expected to rule during calendar 1998.

   In addition, in 1993 and 1994, class action antitrust lawsuits with
allegations similar to those made in the federal case were filed
against the Company and other Canadian and United States potash
producers in state courts in Illinois and California.  The Illinois
case was dismissed for failure to state a claim.  In the California
litigation, merits discovery has been stayed pending the decision of
the Court of Appeals.

FTX Merger Litigation
---------------------
   In August 1997, five identical class action lawsuits were filed in
Chancery Court in Delaware by unitholders of PLP.  Each case named the
same defendants and broadly alleged that FTX and FMRP Inc. (FMRP) had
breached fiduciary duties owed to the public unitholders of PLP.  The
Company was alleged to have aided and abetted these breaches of
fiduciary duty.

   In November 1997, an amended class action complaint was filed with
respect to all cases.  The amended complaint named the same defendants
and raised the same broad allegations of breaches of fiduciary duty
against FTX and FMRP for allegedly favoring the interests of FTX and
FTX's common stockholders in connection with the FTX Merger.  The
plaintiffs claimed specifically that, by virtue of the FTX Merger, the
public unitholders' interests in PLP's ownership of IMC-Agrico would
become even more subject to the dominant interest of the Company.  The
amended complaint seeks certification as a class action and an
injunction against the proposed FTX Merger or, in the alternative,
rescissionary damages.  The defendants' time to answer or otherwise
plead to the amended complaint has been extended.

<PAGE>
    In May 1998, IMC and PLP (collectively, Plaintiffs) filed a lawsuit
(IMC Action) in Delaware Chancery Court against certain former
directors of FTX (the Director Defendants), and MOXY.  IMC alleges that
the Director Defendants, as the directors of PLP's administrative
managing general partner FTX, owed duties of loyalty to PLP and its
limited partnership unitholders.  IMC further alleges that the Director
Defendants breached their duties by causing PLP to enter into a series
of interrelated non-arm's -length transactions with MOXY, an affiliate
of FTX.  IMC also alleges that MOXY knowingly aided and abetted and
conspired with the Director Defendants to breach their fiduciary
duties.  On behalf of the PLP public unitholders, IMC seeks to reform
or rescind the contracts that PLP entered into with MOXY and to recoup
the monies lost via PLP's participation in those agreements.  The
Director Defendants and MOXY have filed motions to dismiss Plaintiffs'
claims.  IMC intends to prosecute this action vigorously.

    Subsequently, in May 1998, Jacob Gottlieb filed an action (Gottlieb
Action) on behalf of himself and all other PLP unitholders against the
Director Defendants, MOXY, and IMC asserting the same claims that IMC
asserts in the IMC action.  Because IMC and PLP had already asserted
these claims, IMC has filed a motion to dismiss the Gottlieb Action.
The court has not set a briefing schedule for IMC's motion to dismiss.
IMC intends to defend this action vigorously.

Other
-----
   In the ordinary course of its business, the Company is and will from
time to time be involved in legal proceedings of a character normally
incident to its business.  The Company believes that its potential
liability in any such pending or threatened proceedings will not have a
material adverse effect on the financial condition or results of
operations of the Company.


Item 6.  Exhibits and Reports on Form 8-K.

   (a)   Exhibits.

         Exhibit
           No.               Description
                                                             ----------
               ---------------------------------------------
        10.1       $1,000,000,000  364-day Credit Agreement dated as of
                 April 1, 1998 among the Company and the Banks listed
                 therein

         27      Financial Data Schedule

   (b)   Reports on Form 8-K.

         Up to the date of this report, the following reports on Form
         8-K were filed:

         Reports under Items 2 and 7 dated April 15, 1998 and June 15,
         1998.
<PAGE>
                    * * * * * * * * * * * * * * * *
                                   
                              SIGNATURES
   Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.

                                   IMC GLOBAL INC.

                                 /s/ Anne M. Scavone
                           ----------------------------------
                                   Anne M. Scavone
                                   Vice President and Controller
                                   (on behalf of the Registrant and as
                                     Chief Accounting Officer)
Date:  August 14, 1998

---------------------------------------------
(1)Except for statements of historical fact contained herein, the statements
   appearing under Part I, Item 2, "Management's Discussion and Analysis of
   Financial Condition and Results of Operations," and Part II, Item 1, "Legal
   Proceedings," presented herein constitute "forward-looking statements"
   within the meaning of the Private Securities Litigation Reform Act of 1995.

   Factors that could cause actual results to differ materially from those
   expressed or implied by the forward-looking statements include, but are not
   limited to, the following: the effect of general business and economic
   conditions; conditions in and policies of the agriculture industry; risks
   associated with investments and operations in foreign jurisdictions and any
   future international expansion, including those related to economic,
   political and regulatory policies of local governments and laws or policies
   of the United States and Canada; changes in governmental laws and
   regulations affecting environmental compliance, taxes and other matters
   impacting the Company; the risks attendant with mining operations; the
   potential impacts of increased competition in the markets the Company
   operates within; risks attendant with supply of and demand for oil and gas;
   the Company's ability to integrate certain acquired businesses and realize
   certain expected acquisition-related synergies and the risk factors
   reported from time to time in the reports filed by the Company with the
   SEC.