<PAGE>
--------------------------------------------------------------------------


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 September 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                             60062
              Northbrook, Illinois                        (Zip Code)
      (Address of principal executive offices)


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: 114,331,647 shares, excluding 10,738,520 treasury shares as 
of November 9, 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   Nine months ended
                                            September 30,       September 30,
                                            1998     1997       1998      1997
<S>                                    <C>       <C>        <C>        <C>
Net sales                              $  756.8  $  598.7   $2,655.4   $2,311.7
Cost of goods sold                        565.2     449.4    1,996.7    1,732.4
                                       --------  --------   --------   --------
     Gross margins                        191.6     149.3      658.7      579.3

Selling, general and administrative 
 expenses                                  64.8      65.1      212.8      197.7
Exploration expenses                        0.6       -         19.5        -
                                       --------  --------   --------    -------
     Operating earnings                   126.2      84.2      426.4      381.6
				
Interest expense                           53.9      13.2      137.6       38.4
Other (income) expense, net                 0.7      (2.7)      (8.2)      (2.7)
	                                 --------  --------   --------    -------
Earnings before minority interest          71.6      73.7      297.0      345.9
Minority interest                          13.2      31.7       30.4      103.2
                                       --------  --------   --------    -------
Earnings before taxes                      58.4      42.0      266.6      242.7
Provision for income taxes                 20.6      15.3       93.8       88.6
                                       --------  --------   --------    -------
Earnings before extraordinary item         37.8      26.7      172.8      154.1
Extraordinary charge - debt retirement     (0.9)      -         (3.6)      (3.3)
                                       --------  --------   --------    -------
     Net earnings                      $   36.9  $   26.7   $  169.2    $ 150.8
                                       ========  ========   ========    =======
				
Basic earnings per share:				
Earnings before extraordinary item     $   0.33  $   0.29   $   1.51    $  1.64
Extraordinary charge - debt retirement    (0.01)     -         (0.03)     (0.04)
                                       --------  --------   --------    -------
     Net earnings per share            $   0.32  $   0.29   $   1.48    $  1.60
                                       ========  ========   ========    =======

Basic weighted average number of
 shares outstanding                       114.3      92.9      114.2       94.0
				

Diluted earnings per share:				
Earnings before extraordinary item     $   0.33  $   0.28   $   1.50   $   1.62
Extraordinary charge - debt retirement    (0.01)     -         (0.03)     (0.03)
                                       --------  --------   --------   --------
     Net earnings per share            $   0.32  $   0.28   $   1.47   $   1.59
                                       ========  ========   ========   ========
				
Diluted weighted average number of 
 shares outstanding                       114.6      93.8      114.9       94.9



(See Notes to Condensed Consolidated Financial Statements on Page 5)
</TABLE

<PAGE>

</TABLE>
<TABLE>
CONDENSED CONSOLIDATED BALANCE SHEET
(Dollars in millions)
<CAPTION>

                                                  September 30,  December 31,
Assets                                                1998           1997
--------------------------------------------------------------------------
<S>                                               <C>            <C>
Current assets:
  Cash and cash equivalents                       $   71.6       $  109.7
  Receivables, net                                   439.0          288.1
  Inventories                                        714.7          592.8
  Deferred income taxes                               82.5           54.2
  Other current assets                                23.5           17.4
                                                  --------       --------
    Total current assets                           1,331.3        1,062.2
Property, plant and equipment, net                 3,861.9        2,506.0
Other assets                                       1,546.0        1,105.7
                                                  --------       --------
Total assets                                      $6,739.2       $4,673.9
                                                  ========       ========
		
Liabilities and Stockholders' Equity		
--------------------------------------------------------------------------
Current liabilities:		
  Accounts payable                                $  263.4       $  253.3
  Accrued liabilities                                312.1          230.9
  Short-term debt and current maturities of
   long-term debt                                    982.7          188.9
                                                  --------       --------
    Total current liabilities                      1,558.2          673.1
Long-term debt, less current maturities            1,965.2        1,235.2
Deferred income taxes                                713.5          389.7
Other noncurrent liabilities                         453.2          440.2
Stockholders' equity:		
  Common stock, $1 par value, authorized  
   300,000,000 shares; issued 125,067,817 
   and 124,668,286 shares at September 30 
   and December 31, respectively                     125.0          124.6
  Capital in excess of par value                   1,697.0        1,690.3
  Retained earnings                                  581.6          446.2
  Accumulated other comprehensive income             (58.3)         (30.8)
  Treasury stock, at cost, 10,738,520 and 
10,691,520 shares at September 30 and 
   December 31, respectively                        (296.2)        (294.6)
                                                 --------       --------
    Total stockholders' equity                     2,049.1        1,935.7
                                                  --------       --------
Total liabilities and stockholders' equity        $6,739.2       $4,673.9
                                                  ========       ========






(See Notes to Condensed Consolidated Financial Statements on Page 5)
</TABLE

<PAGE>

</TABLE>
<TABLE>
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(In millions)
<CAPTION>

                                                            Nine months ended
                                                              September 30,
                                                             1998        1997
--------------------------------------------------------------------------
<S>                                                       <C>         <C>
Cash Flows from Operating Activities
------------------------------------
Net earnings                                              $  169.2    $  150.8
Adjustments to reconcile net earnings to net cash 
 provided by operating activities:		
Depreciation, depletion and amortization                  193.9       141.5
Minority interest                                          30.4       103.2
Deferred income taxes                                     (12.3)       35.9
Other charges and credits, net                           (117.8)      (33.7)
Changes in:		
Receivables                                              16.5         8.8
Inventories                                             (15.4)       28.7
Other current assets                                      3.6        (0.6)
Accounts payable                                        (98.1)      (25.4)
Accrued liabilities                                      82.0        46.5
                                                          --------     -------
Net cash provided by operating activities                 252.0       455.7
                                                          --------     -------
Cash Flows from Investing Activities
------------------------------------
Capital expenditures                                        (252.2)     (157.9)
Acquisitions of businesses, net of cash acquired            (393.3)     (103.0)
Proceeds from sale of business                                44.8         -
Proceeds from sales of property, plant and equipment           5.8         8.2
                                                          --------     -------
Net cash used in investing activities                    (594.9)     (252.7)
                                                          --------     -------
Net cash provided (used) before financing activities     (342.9)      203.0
                                                          --------     -------
Cash Flows from Financing Activities
------------------------------------
Joint venture cash distributions to Phosphate Resource 
 Partners Limited Partnership, net                           (55.1)     (123.8)
Payments of long-term debt                                  (997.2)     (156.0)
Proceeds from issuance of long-term debt, net              1,194.7       312.0
Changes in short-term debt, net                              252.1       (54.7)
Increase (decrease) in securitization of accounts 
 receivable, net                                             (61.5)        5.2
Stock options exercised                                        8.8         5.0
Cash dividends paid                                          (33.9)      (22.4)
Purchase of treasury stock                                    (3.1)     (157.2)
                                                          --------     -------
Net cash provided by (used in) financing activities       304.8      (191.9)
                                                          --------     -------

Net change in cash and cash equivalents                   (38.1)       11.1
Cash and cash equivalents - beginning of period           109.7        63.3
                                                          --------     -------
Cash and cash equivalents - end of period              $   71.6     $  74.4
                                                          ========     =======




(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
------------
1998 Acquisition
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 Harris 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 initially 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 $319.0 million which 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 Harris 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>  
                                                        Nine months ended
                                                          September 30,
                                                        1998         1997
                                                        ----         ----
<S>                                                   <C>         <C>
Net sales:                                            $2,882.6    $2,891.5
  Earnings before extraordinary item                     179.6        82.4
  Net earnings                                           173.5        79.1

Diluted earnings per share:
  Earnings before extraordinary item                  $   1.56    $   0.70
  Net earnings per share                                  1.51        0.67
</TABLE>

1997 Acquisitions
During the nine months ended September 30, 1997, the Company completed 
several acquisitions, including a potash mine and processing facility 
(Western Ag-Minerals Company); a precision farming operation (Top-Soil); 
several retail distribution operations (Crop-Maker, So-Green, Frankfort 
Supply, Sanderlin, and Hutson Ag Services, Inc.); a storage terminal company 
(Hutson Company, Inc.); and the purchase of the preferred stock of a 
subsidiary held by an unrelated third party.  Total cash payments for 
acquisitions during the nine months ended September 30, 1997 were $103.0 
million, and approximately 200,000 shares of common stock of the Company were 
issued for $7.9 million. 

The acquisitions for the nine months ended September 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 nine months ended September 30, 1997, 
reflecting these acquisitions from the beginning of that period, would not 
have been materially different from reported amounts.

<PAGE>
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.  The Company 
is continuing to explore its strategic options for IMC AgriBusiness.  Any 
sale would be subject to certain conditions including the execution of a 
definitive agreement and the receipt of certain approvals.

Currently, the Company is also exploring strategic options, including 
divestiture, for its IMC Chemicals business unit.  As with IMC AgriBusiness 
discussed above, any sale would be subject to certain conditions including 
the execution of a definitive agreement and the receipt of certain approvals.

3.	Financing Activities
--------------------
In September 1998, the Company redeemed $100.2 million of its 8.50 percent 
senior notes due 2000. 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 (APB) No. 16.  The 
redemption reduced high-cost indebtedness and was funded by commercial paper 
borrowings.  Additionally, in September 1998, the Company purchased on the 
open market $44.0 million of $355.9 million 10.75 percent senior subordinated 
notes due 2003 (Senior Subordinated Notes), and $8.8 million of $261.9 
million 10.25 percent senior notes due 2001 (Senior 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 APB No. 16.   The 
open market purchase reduced high-cost indebtedness and was funded by 
commercial paper borrowings.

Also in September 1998, the Company filed a registration statement on Form  
S-3 (Form S-3) to increase the amount of debt and equity securities available 
for issuance to $700.0 million.  The Form S-3 was subsequently increased to 
$800.0 million.  

In August 1998, the Company issued, under a Form S-3, $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.  

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 
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 premiums 
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.	Restructuring Charge
--------------------
The Company recently announced the consolidation of its phosphate and potash 
businesses into a new operating entity, IMC Crop Nutrients.  Concurrent with 
forming IMC Crop Nutrients, the Company is undertaking an extensive program 
of performance improvement in the phosphate business, targeting productivity 
increases, operating cost reductions and major asset restructuring.  
Additionally, cost reductions are expected to be realized through staff 
reductions at the Company's headquarters and administrative offices.  The 
Company is in the process of evaluating the accounting impact of the 
foregoing restructuring activities and currently expects to record a charge 
to earnings related to such restructuring activities, in an as yet 
undetermined amount, in the fourth quarter of 1998.

5.	Operating Segments
------------------
Segment information for 1998 and 1997 was as follows(a):
<TABLE>
<CAPTION>
                        IMC-Agrico    IMC         IMC        IMC    
                        Phosphates   Kalium   AgriBusiness  Chemicals  Other(c)    Total
                          ----------   ------   ----------   --------  --------    -----
Three months ended September 30, 1998
<S>                      <C>         <C>       <C>          <C>       <C>        <C>
Net sales from  
 external customers      $  316.3    $  148.1  $    97.3    $ 103.0   $   92.1   $  756.8
Intersegment net sales       36.4        26.3        -          -          0.8       63.5
Gross margins                86.4        70.9       13.0       14.7        6.6      191.6
Operating earnings           77.2        64.3      (13.7)       8.9      (10.5)     126.2
Total assets at 
 September 30, 1998(b)    1,818.9     1,324.0      451.5      623.8	   2,521.0    6,739.2

Nine months ended September 30, 1998
Net sales from 
 external customers      $1,039.5    $  484.1  $   666.0    $ 205.8   $  260.0   $2,655.4
Intersegment net sales      134.3        70.4        -          -          3.8      208.5
Gross margins               273.7       226.1      112.2       27.0       19.7      658.7
Operating earnings          244.7       205.1       28.8       15.1      (67.3)     426.4

                        IMC-Agrico    IMC         IMC        IMC    
                        Phosphates   Kalium   AgriBusiness  Chemicals  Other(c)    Total
                          ----------   ------   ----------   --------  --------    -----
Three months ended September 30, 1997
Net sales from 
 external customers       $  314.7   $  134.6  $    98.9    $   -     $   50.5   $  598.7
Intersegment net sales        39.6       19.9       -           -          8.6       68.1
Gross margins                 77.9       54.1       14.3        -          3.0      149.3
Operating earnings            68.3       48.4      (14.9)       -        (17.6)      84.2
Total assets at 
 September 30, 1997(b)     1,694.7      847.1      459.8        -        644.5    3,646.1

Nine months ended September 30, 1997
Net sales from 
 external customers       $  985.4   $  394.0  $   728.6     $  -     $  203.7   $2,311.7
Intersegment net sales       128.9       58.7        -          -         30.6      218.2
Gross margins                242.5      169.8      139.4        -         27.6      579.3
Operating earnings           211.2      153.6       47.0        -        (30.2)     381.6

(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 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 as part of the Harris Acquisition. 

(c)	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 manufactured and distributed 
consumer lawn and garden products; produced and marketed professional 
products for turf, nursery and horticulture markets; and produced and 
distributed 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.
</TABLE>

6.	Comprehensive Income
--------------------
The Company has adopted Statement of Financial Accounting Standards (SFAS) 
No. 130, "Reporting Comprehensive Income." An analysis of comprehensive 
income, net of taxes, is provided below:
<TABLE>
<CAPTION>
                                      Three months ended  Nine months ended
                                         September 30,       September 30,
                                         1998      1997     1998      1997
                                         ----      ----     ----      ----
<S>                                    <C>       <C>      <C>       <C>
Comprehensive income:					
 Net earnings                          $ 36.9    $ 26.7   $ 169.2   $ 150.8
 Foreign currency translation
  adjustment                            (11.5)     (0.3)    (27.5)     (1.9)
                                       ------    ------   -------   -------
   Total comprehensive income 
    for the period                     $ 25.4    $ 26.4   $ 141.7   $ 148.9
                                       ======    ======   =======   =======
</TABLE>

7.	Subsequent Events
-----------------
In October 1998, the Company redeemed $311.7 million of Senior Subordinated 
Notes and $253.1 million of Senior Notes.  In connection with the redemption 
of the Senior Subordinated Notes and the Senior Notes, the Company recorded 
an extraordinary gain, net of taxes, of $7.1 million.  These redemptions 
represented the final payments on the total outstanding balances of the 
Senior Subordinated Notes and Senior Notes and were made to reduce high-cost 
indebtedness.  Also, in October 1998, the Company issued, under a Form S-3, 
$200.0 million of 6.625 percent notes due 2001.  The proceeds of this 
issuance were used to redeem the Senior Subordinated Notes and Senior Notes 
discussed above.

In November 1998, the Company issued, under a Form S-3, $300.0 million of 
7.40 percent notes due 2002 and $300.0 million of 7.625 percent notes due 
2005.  The proceeds of these issuances were used to repay short-term debt, 
including commercial paper.

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

Results of Operations
---------------------
Three months ended September 30, 1998  vs.  three months ended  
September 30, 1997 
------------------------------------------------------------------------
Overview
Net sales for the third quarter ended September 30, 1998 were $756.8 
million and gross margins were $191.6 million.  Earnings, before an 
extraordinary charge, were $37.8 million, or $0.33 per share. An 
extraordinary charge of $0.9 million, or $0.01 per share, related to the 
early extinguishment of debt, reduced net earnings to $36.9 million, or 
$0.32 per share. 

Net sales for the third quarter ended September 30, 1997 were $598.7 
million and gross margins were $149.3 million.  Net earnings were $26.7 
million, or $0.28 per share. 

Net sales increased 26 percent from the prior year third quarter while 
gross margins increased 28 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 Phosphates.  The 
sales improvements were largely attributable to continued strong demand 
and higher prices for potash and phosphate crop nutrients, increased 
demand for animal feed ingredients, 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 hereinafter referred 
to as the "Harris Acquisition." 

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

IMC-Agrico Phosphates
Phosphates' net sales for the third quarter remained relatively 
unchanged as they decreased $1.6 million from $354.3 million in 1997 to 
$352.7 million in 1998, primarily as a result of lower concentrates 
sales volumes, partially offset by higher average sales realizations of 
concentrates and higher sales volumes of phosphate rock. Sales volumes 
of concentrated phosphates, primarily granular triple superphosphate 
(GTSP) and diammonium phosphate (DAP) declined $22.8 million.  The 
decreased shipments were mainly attributable to aggressive pricing from 
competitors and lower shipments to Brazil and China due to severe 
weather and weakened economic conditions.  Higher concentrate sales 
prices of $8.7 million were mainly caused by higher DAP realizations, 
while the increase in phosphate rock volumes of $11.0 million primarily 
resulted from additional sales to a large contract customer.  

Gross margins increased 11 percent to $86.4 million in the quarter 
compared to $77.9 million in the prior year quarter, mainly due to lower 
production costs and the higher prices discussed above, partially offset 
by the lower volumes discussed above.  Production costs decreased 
compared to the prior year's third quarter primarily as a result of 
lower raw material costs for purchased ammonia and sulphur.

IMC Kalium 
IMC Kalium's net sales increased 13 percent to $174.4 million in the 
current quarter from $154.5 million in the prior year quarter. The 
increase was due primarily to average sales realization improvements. 
Sales realizations increased when compared to the same period in the 
prior year by virtue of multiple price increases and a positive change 
in sales mix.  Additionally, export sales volumes increased as a result 
of strong demand.  These increases were slightly offset by lower 
domestic sales volumes created by lower domestic demand because of an 
above average corn and soybean harvest coupled with low commodity 
prices.

Gross margins increased 31 percent to $70.9 million for the quarter from 
$54.1 million in the same period one year ago. This increase was 
primarily due to the impact of the increased average realizations 
discussed above, partially offset by lower domestic sales volumes 
discussed above and 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.   

IMC AgriBusiness 
IMC AgriBusiness' net sales decreased two percent to $97.3 million in 
the current quarter from $98.9 million in the prior year quarter.  Lower 
volumes for DAP, solutions, ammonia, mixed goods and potash, combined 
with weaker average prices for ammonia and nitrogen solutions, were the 
primary factors for this decrease.  This decrease was partially offset 
by higher volumes in crop protection products which resulted from 
planting delays during the spring planting season pushing sales into the 
current quarter.  

Gross margins decreased nine percent from $14.3 million in the third 
quarter one year ago to $13.0 million in the current quarter, primarily 
due to the lower volumes and realizations discussed above.  


<PAGE>
IMC Salt
IMC Salt's net sales were $51.0 million with gross margins of $9.9 
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 industries.  

Other
The addition of IMC Chemicals, as a result of the Harris Acquisition, 
increased sales by $103.0 million and gross margins by $14.7 million.  
Sales at IMC-Agrico Feed Ingredients (Feed Ingredients) increased 12 
percent to $41.8 million for the current quarter as compared to $37.4 
million for the prior year period.  The Feed Ingredients sales increase 
was driven by increased domestic and international volumes.  Partially 
offsetting these increases in third quarter sales and gross margins, as 
compared to the same period in the prior year, was the absence of sales 
and margins for IMC Vigoro as a result of the divestiture of this 
business during the second quarter of 1998.  See Note 2, "Divestitures," 
of Notes to Condensed Consolidated Financial Statements.

Key Statistics
The following table summarizes the Company's core business sales volumes 
and average selling prices for the three months ended September 30th:
<TABLE>
<CAPTION>
                                                 1998        1997
                                                 ----        ----
<S>                                             <C>         <C>
Sales volumes (in thousands of short tons)(a):
IMC-Agrico Phosphates                         1,575       1,753
IMC Kalium                                    2,081       2,213
IMC Salt                                      1,554         n/a
		
Average price per ton(b):
DAP                                            $182        $175
Potash                                           82          71
Salt                                             33         n/a

(a)	Sales volumes include tons sold captively.  IMC-Agrico Phosphates' 
volumes represent dry product tons, primarily DAP.
(b)	Average prices represent sales made FOB mine/plant.
n/a	Not applicable as a result of the Harris Acquisition in April 1998.
</TABLE>

Interest Expense
Interest expense totaled $53.9 million in the current quarter, an 
increase of $40.7 million from the same period in the prior year.  The 
increase in interest expense was due to increased activity under 
revolver/commercial paper loans along with debt assumed in conjunction 
with Freeport-McMoRan Inc.'s (FTX) merger with the Company (FTX Merger) 
in December 1997 and the Harris Acquisition, as well as the issuance of: 
(i) $200.0 million 6.50 percent notes due 2003 in August 1998; (ii) 
$100.0 million 7.375 percent debentures due 2018 in August 1998; (iii) 
$150.0 million 6.55 percent senior notes due 2005 in January 1998; and 
(iv) $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 bearing notes.   

Other (Income) Expense, Net
Other expense for the current quarter increased $3.4 million from the 
same period last year to $0.7 million.  The increase was primarily due 
to the following: (i) the absence in the current year of a gain from the 
disposal of mineral rights; and (ii) the write-off of deferred revenue 
recorded at IMC Chemicals, necessitated by purchase price accounting, 
partially offset by (iii) increased interest income from interest-
bearing cash balances and 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 the FTX Merger.
<PAGE>
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 improvements recognized in tax costs associated 
with international sales and operations.

Nine months ended September 30, 1998 vs. nine months ended      
September 30, 1997
------------------------------------------------------------------------
Overview
Net sales for the nine months ended September 30, 1998 were $2,655.4 
million and gross margins, before special one-time charges, were $662.8 
million.  Earnings, before an extraordinary charge and special one-time 
charges, were $181.9 million, or $1.58 per share.  An extraordinary 
charge of $3.6 million, or $0.03 per share, and special one-time charges 
of $9.1 million, or $0.08 per share, reduced net earnings for the nine 
months of 1998 to $169.2 million, or $1.47 per share.  The extraordinary 
charge related to the early extinguishment of debt, and the special one-
time charges, totaling $14.0 million before tax 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 nine months ended September 30, 1997 were $2,311.7 
million, gross margins were $579.3 million and earnings, before an 
extraordinary charge, were $154.1 million, or $1.62 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 $150.8 million, or 
$1.59 per share.  

Net sales for the nine months of 1998 increased 15 percent when compared 
to the nine months of the prior year period while gross margins, before 
special one-time charges, increased 14 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 Phosphates.  The sales improvements were largely attributable 
to continued strong demand and higher prices for potash and phosphate 
crop nutrients, and additional revenues from the former Harris 
operations.  See Note 1, "Acquisitions," of Notes to Condensed 
Consolidated Financial Statements. Partially offsetting growth in potash 
and phosphate revenues were lower net sales at IMC AgriBusiness and the 
absence of sales due to the divestiture of IMC Vigoro in June 1998.  See 
Note 2, "Divestitures," of Notes to Condensed Consolidated Financial 
Statements.
    
The operating results of the Company's significant business units are 
discussed in more detail below.

IMC-Agrico Phosphates
Phosphates' net sales for the first nine months of 1998 improved five 
percent to $1,173.8 million compared to $1,114.3 million for the same 
period last year primarily due to increased concentrate sales volumes 
and higher average sales realizations.  Sales volumes of concentrated 
phosphates, primarily domestic shipments of DAP and domestic and 
international shipments of granular monoammonium phosphate, increased by 
$41.6 million from the same prior year period.  These favorable volume 
variances reflected the following factors: (i) a strong spring season; 
(ii) an increase in the number of supply contracts over the prior 
period; (iii) an active summer fill program; and (iv) significant spot 
sales to co-ops.  Average sales realizations for the first nine months 
of 1998 increased $12.2 million as compared to the prior year period 
primarily as a result of higher international GTSP realizations and an 
increase in the transfer price of phosphoric acid sold to Feed 
Ingredients.


<PAGE>
Gross margins increased 13 percent to $273.7 million for the first nine 
months of 1998 compared to $242.5 million for the first nine 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 nine months primarily as a result of lower raw 
material costs for purchased ammonia and sulphur, partially offset by 
increased costs for phosphate rock operations.

IMC Kalium 
IMC Kalium's net sales for the first nine months of 1998 increased 22 
percent to $554.5 million compared to $452.7 million for the first nine 
months of 1997.  This increase was primarily by virtue of average sales 
realization improvements.  Average sales realizations increased over the 
prior year as a result of multiple price increases and a positive change 
in sales mix.    

Gross margins increased 33 percent to $226.1 million for the first nine 
months of 1998 from $169.8 million for the same period one year ago, 
primarily as a result of the impact of the increased average 
realizations discussed above, partially offset by higher production 
costs. This resulted from the addition of costs related to the purchase 
of GSL as part of the Harris Acquisition in April 1998 coupled with 
increased provincial levies. 

IMC AgriBusiness 
IMC AgriBusiness' net sales decreased nine percent to $666.0 million for 
the first nine months of 1998 from $728.6 million for the same prior 
year period.  Lower volumes for mixed goods and ammonia, combined with 
wet field conditions during the spring and weaker average prices for 
nitrogen solutions and ammonia, were the primary factors for this 
decrease.  

Gross margins decreased 20 percent from $139.4 million for the nine 
months ended September 30, 1997 to $112.2 million for the first nine 
months of 1998, by virtue of 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; consequently, results for the nine months ended 
September 30, 1998 include only second and third quarter activity. See 
Note 1, "Acquisitions," of Notes to Condensed Consolidated Financial 
Statements. 

IMC Salt's net sales were $91.9 million with gross margins of $17.1 
million for the nine months ended September 30, 1998.  Current year-to-
date salt demand was strong among customers in the water conditioning, 
food processing and animal feed industries.  

Other
The IMC Chemicals business unit was established in April 1998 concurrent 
with the Harris Acquisition; consequently, results for the nine months 
ended September 30, 1998 include only second and third quarter activity.  
See Note 1, "Acquisitions," of Notes to Condensed Consolidated Financial 
Statements.  IMC Chemical's net sales were $205.8 million with gross 
margins of $27.0 million for the nine months ended September 30, 1998.  
The offsets to the sales and gross margin increases described above 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 of 1998.  See Note 2, "Divestitures," of Notes to Condensed 
Consolidated Financial Statements.


<PAGE>
Key Statistics
The following table summarizes the Company's core business sales volumes 
and average selling prices for the nine months ended September 30th:
<TABLE>
<CAPTION>
                                                    1998       1997
                                                    ----       ----
<S>                                                <C>        <C>
Sales volumes (in thousands of short tons)(a):
IMC-Agrico Phosphates                              5,494      5,321
IMC Kalium                                         6,802      6,723
IMC Salt(c)                                        2,770        n/a
		
Average price per ton(b):
DAP                                                 $177       $177
Potash                                                80         68
Salt(c)                                               33        n/a

(a)	Sales volumes include tons sold captively.  IMC-Agrico Phosphates' 
volumes represent dry product tons, primarily DAP.
(b)	Average prices represent sales made FOB mine/plant.
(c)	Results reflect activity for the second and third quarters only as a 
result of the Harris Acquisition.  See Note 1, "Acquisitions," of 
Notes to Condensed Consolidated Financial Statements.
n/a	Not applicable as a result of Harris Acquisition in April 1998.
</TABLE>

Selling, General and Administrative Expenses
Selling, general and administrative expenses increased $5.2 million, or 
three percent, to $202.9 million, before special one-time charges of 
$9.9 million, for the first nine months of 1998 compared to $197.7 
million for the first nine months of 1997.  This increase was primarily 
due to the inclusion of the results of operations of businesses acquired 
since September 1997 in the Company's nine 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.

Interest Expense
Interest expense totaled $137.6 million for the first nine months of 
1998, an increase of $99.2 million from the same period in the prior 
year.  The increase in interest expense was due to increased activity 
under revolver/commercial paper loans along with debt assumed in 
conjunction with the Harris Acquisition and the FTX Merger as well as 
the issuance of: (i) $200.0 million 6.50 percent notes due 2003 in 
August 1998; (ii) $100.0 million 7.375 percent debentures due 2018 in 
August 1998; (iii) $150.0 million 6.55 percent senior notes due 2005 in 
January 1998; (iv) $150.0 million 7.30 percent debentures due 2028 in 
January 1998; and (v) $150.0 million 6.875 percent senior debentures due 
2007 in July 1997.  The increase in interest expense was partially 
offset by the tender of higher interest notes and the early payment of 
certain unsecured term loans. 

Other (Income) Expense, Net
Other income for the nine months ended September 30, 1998 increased $5.5 
million from the same period in the prior year.  The increase was 
primarily due to the following: (i) increased interest income from 
interest-bearing cash balances; (ii) the absence of current year 
amortization of a merger and restructuring charge; and (iii) 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.

Income Taxes
The effective income tax rate for the nine 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 improvements recognized in tax costs associated 
with international sales and operations.  

<PAGE>
Capital Resources and Liquidity
-------------------------------
Liquidity and Operating Cash Flow
Cash generated from operating activities decreased $203.7 million in the 
first nine months of 1998 to $252.0 million.  The decrease was primarily 
due to: (i) cash used to fund Phosphate Resource Partners Limited 
Partnership (PLP) operations, primarily related to oil & gas; (ii) 
increased litigation payments; and (iii) higher debt fee payments 
associated with debt issuances.  Also, when compared to December 31, 
1997, the Company's working capital ratio decreased to 0.9:1 at 
September 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 $342.2 million over 1997 
levels primarily due to acquisitions and increased capital expenditures, 
partially offset by $44.8 million of proceeds from the sale of IMC 
Vigoro.  See Note 1, "Acquisitions," and Note 2, "Divestitures," of 
Notes to Condensed Consolidated Financial Statements.  Capital 
expenditures for the first nine months of 1998 increased $94.3 million 
when compared with the first nine months of the prior year primarily due 
to the following: (i) PLP's share of McMoRan Oil & Gas Company (MOXY) 
exploration and development costs of $40.1 million; (ii) enterprise-wide 
systems development expenditures of $23.8 million; and (iii) 
expenditures for IMC Salt and IMC Chemicals of $19.8 million.

Cash from financing activities increased $496.7 million for the first 
nine months of 1998 when compared with the comparable period in the 
prior year from a use of funds of $191.9 million to a source of funds of 
$304.8 million at September 30, 1998.  This increase in funds available 
was primarily due to higher net debt proceeds for the current year 
period of $281.6 million and decreased stock repurchases of $154.1 
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 57.1 
percent from 42.4 percent at December 31, 1997, primarily as a result of 
increased commercial paper borrowings, partially offset by the 
prepayment of certain unsecured loans in January 1998 and the redemption 
of $100.2 million of the 8.50 percent senior notes in September 1998.  
See "Financing" below for further details.  Additionally, net PLP 
distributions decreased $68.7 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.

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 September 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 September 30, 1998, commitment fees associated with the 
Canadian Facility were 11.0 basis points.


<PAGE>
In September 1998, the Company redeemed $100.2 million of its 8.50 
percent senior notes due 2000. 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 (APB) No. 16.  The redemption reduced its high-cost indebtedness 
and was funded by commercial paper borrowings.  See Note 3, "Financing 
Activities," of Notes to Condensed Consolidated Financial Statements.  
Additionally, in September 1998, the Company purchased on the open 
market $44.0 million of $355.9 million 10.75 percent senior subordinated 
notes due 2003 (Senior Subordinated Notes), and $8.8 million of $261.9 
million 10.25 percent senior notes due 2001 (Senior 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 APB 
No. 16.   The open market purchase reduced high-cost indebtedness and 
was funded by commercial paper borrowings.

Also in September 1998, the Company filed a registration statement on 
Form S-3 (Form S-3) to increase the amount of debt and equity securities 
available for issuance to $700.0 million.  The Form S-3 was subsequently 
increased to $800.0 million.  

In August 1998, the Company issued, under the Form S-3, $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.  

During June 1998, $0.2 million of $355.9 million Senior Subordinated 
Notes, and $3.1 million of $104.3 million 8.50 percent senior notes due 
2000 were presented for purchase by holders of the notes.  

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 high-cost indebtedness.  See Note 3, "Financing 
Activities," of Notes to Condensed Consolidated Financial Statements.
	
In July 1997, the Company issued, under an existing shelf registration 
statement, $150.0 million of 6.875 percent senior debentures due 2007. 
The proceeds of this issuance were used to reduce high-cost 
indebtedness.

In May 1997, the Company completed a tender offer to purchase portions 
of its high-cost senior notes.  See Note 3, "Financing Activities," of 
Notes to Condensed Consolidated Financial Statements.

Recent Developments
In October 1998, the Company redeemed $311.7 million of Senior 
Subordinated Notes and $253.1 million of Senior Notes. In connection 
with the redemption of the Senior Subordinated Notes and the Senior 
Notes, the Company recorded an extraordinary gain, net of taxes, of $7.1 
million.  These redemptions represented the final payments on the total 
outstanding balances of the Senior Subordinated Notes and Senior Notes 
and were made to reduce high-cost indebtedness.  Also in October 1998, 
the Company issued, under the Form S-3, $200.0 million of 6.625 percent 
notes due 2001.  The proceeds of this issuance were used to redeem a 
portion of the Senior Subordinated Notes and Senior Notes.

In November 1998, the Company issued, under the Form S-3, $300.0 million 
of 7.40 percent notes due 2002 and $300.0 million of 7.625 percent notes 
due 2005.  The proceeds of these issuances were used to repay short-term 
debt, including commercial paper.


<PAGE>
Restructuring Charge
--------------------
The Company recently announced the consolidation of its phosphate and 
potash businesses into a new operating entity, IMC Crop Nutrients.  
Concurrent with forming IMC Crop Nutrients, the Company is undertaking 
an extensive program of performance improvement in the phosphate 
business, targeting productivity increases, operating cost reductions 
and major asset restructuring.  Additionally, cost reductions are 
expected to be realized through staff reductions at the Company's 
headquarters and administrative offices.  The Company is in the process 
of evaluating the accounting impact of the foregoing restructuring 
activities and currently expects to record a charge to earnings related 
to such restructuring activities, in an as yet undetermined amount, in 
the fourth quarter of 1998.

Year 2000 Compliance
--------------------
Like other businesses dependent on modern technology, the Company must 
address potential Year 2000-related issues.  The Company is progressing 
through a comprehensive program (Year 2000 Program) to evaluate and 
address the impact of Year 2000-related issues on its operational 
systems, business application software, computer hardware, facilities 
infrastructure and equipment with embedded technology, and Year 2000-
related risks associated with its vendors and customers.  

The Company's Year 2000-related effort is a cooperative venture 
coordinated among business units and appropriate members of the 
Company's senior management.  Progress reviews are held periodically 
with senior management and the Board of Directors.  As an additional 
step, the Company has created the position of Year 2000 Risk Manager to 
provide Company-wide leadership, oversight and coordination of its Year 
2000 project. 

State of Readiness
The Company is using both internal and external resources to implement 
its Year 2000 Program, which includes the following overlapping phases: 
system inventory and analysis; remediation, testing and implementation; 
and vendor and customer review. The Company expects that its Year 2000 
Program will be substantially complete by the end of the third quarter 
of 1999. 

System Inventory and Analysis Phase
-----------------------------------
The system inventory and analysis phase consists of compiling a detailed 
inventory of all of the Company's systems and platforms to determine 
which items are date sensitive, affected by the Year 2000, and therefore 
require remediation. Each of the Company's business units has focused 
specifically on the following seven target areas: business application 
software, mainframe hardware and software, network servers, desktop 
environment, network and telephone systems, non-information technology 
assets and facilities, and major suppliers and service providers.  This 
analysis has involved both an internal assessment conducted by Company 
engineers, technicians, and business unit managers, as well as contact 
with the manufacturers of computer systems and equipment used by the 
Company in its operations.  Each of the Company's business units has 
substantially completed its system inventory and analysis phase.  The 
principal business application systems requiring remediation that were 
identified by the Company during this stage include the following 
systems: equipment maintenance, spare parts inventory, distribution, 
customer order entry, and financial/accounting.  In addition,  some 
Company plants have identified certain production control systems that 
will require Year 2000-related remediation in order to remain operative. 

Remediation, Testing and Implementation Phase 
---------------------------------------------
The remediation, testing and implementation phase involves determining 
and implementing a remediation method (upgrade, replace or discontinue) 
that is most appropriate for each specific date sensitive item.   The 
remediated item is then tested and returned to normal operations when 
Year 2000-related issues have been addressed.  Testing includes 
functional testing of remedial measures and regression testing to 
validate that changes have not altered existing functionality.  Several 
system manufacturers have provided testing procedures for their 
equipment and have been available for consultations about Year 2000-
related testing.  In certain limited cases, the Company has also 
retained special consultants to assist with its remediation efforts. 

As a separate initiative, the Company is implementing its Global Vision 
Project, an enterprise-wide resource planning (ERP) software package.  
Its scope includes accounts payable, inventory, purchasing, general 
ledger, payroll, human resources and plant maintenance.  This new ERP 
software and the improvements to the infrastructure hardware required to 
support the Global Vision Project should further remediate issues 
associated with the Year 2000. 

Vendor and Customer Review
--------------------------
Vendor reviews consist of assessing vendor readiness, and if necessary, 
identifying alternate channels to receive critical materials and/or 
supplies.  Each business unit has developed a questionnaire that has 
been submitted to the primary suppliers and vendors to determine their 
Year 2000-related status.  The business units currently are analyzing 
the information provided in these responses, and will determine the best 
way to address any specific issues.  As an additional precaution, each 
business unit's purchase orders now contain a Year 2000-related clause 
to help ensure that any newly purchased equipment adequately addresses 
Year 2000-related issues.  

Although the Company is attempting to monitor and validate the efforts 
of other parties, it may not have control over the success of these 
efforts.  In the event that satisfactory commitments from key suppliers 
are not received, the Company is forming plans for the continuing 
availability of critical materials and supplies through alternate 
channels.  In general, however, the Company is satisfied with the 
progress made by critical vendors to date and no critical issues have 
been identified.  

In addition to investigating the Company's key suppliers, the Company's 
business units are also contacting key customers to explain the 
Company's Year 2000-related efforts and to solicit certain information 
about each customer's Year 2000-related efforts to assess potential Year 
2000-related problems that could affect future orders from such 
customers. 
 
Costs
The Company does not currently expect that the costs of addressing its 
Year 2000-related issues will have a material effect on its financial 
position, results of operations or liquidity.  Costs related to Year 
2000-related issues are expensed as incurred and are funded through 
operating cash flows.  In a few limited instances, some business units 
have deferred certain non-Year 2000-related information technology 
projects due to their respective Year 2000-related efforts.  The Company 
believes, however, that these deferred projects are not critical to its 
present or future financial performance or business operations.  The 
Company estimates its total Year 2000-related technology and non-
information technology systems remediation costs to be approximately 
$5.7 million, of which $1.8 million will be expended in 1998.  The 
remaining costs will be incurred during 1999.  A sizable portion of 
these costs represents the redeployment of existing employee resources 
rather than incremental expenses. 

Risks
Progress reports on the Year 2000 Program are presented regularly to the 
Company's Board of Directors and senior management.  As the program 
continues, the Company may discover additional Year 2000-related 
challenges, including that remediation plans are not feasible or that 
the cost of such plans exceed current expectations.  In many cases, the 
Company is relying on written assurances from vendors that the current 
systems are, or that new or upgraded systems acquired by the Company 
will adequately address Year 2000-related issues. The Company believes 
that one of its principal Year 2000-related risks is the effect Year 
2000-related issues will have on its vendors, especially its utilities 
vendors.  A substantial part of the Company's day-to-day operations is 
dependent on power, transportation systems, and telecommunication 
services, as to which alternative sources of service may not be 
available.  The Company will continue to investigate the readiness of 
its suppliers, including utilities, and pursue the availability of 
alternatives to further diminish the extent of any impact Year 2000-
related issues may have on the Company.  Although there can be no 
assurance that the Company will be able to complete all of the 
modifications in the required time frame or that no unanticipated events 
will occur, it is management's belief that the Company is taking 
adequate action to address Year 2000-related issues.  However, because 
of the range of possible issues and the large number of variables 
involved, it is impossible to quantify the potential cost of problems 
should the Company's remediation efforts or the efforts of those it does 
business with not be successful.  If either the Company, or the 
Company's vendors fail to adequately address Year 2000-related issues, 
the Company may suffer business interruptions.  If such interruptions 
cause the Company to be unable to fulfill its obligations to third 
parties, the Company may potentially be exposed to third party 
liability.

Contingency Planning
At the present time, the Company has plans to develop contingency 
measures to address the possibility that it will not have fully 
addressed Year 2000-related issues by December 31, 1999.  The Company's 
Year 2000-related strategy is currently emphasizing remediation, 
testing, and implementation activities.  The Company will initiate 
contingency planning in early 1999. 

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 September 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, all proceedings have been stayed pending the decision of 
the Court of Appeals. 

<PAGE>
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.

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 as a result of PLP's participation in those agreements.  
The Director Defendants and MOXY have filed motions to dismiss 
Plaintiffs' claims.  IMC intends to pursue 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.


<PAGE>
Item 6.	Exhibits and Reports on Form 8-K.

(a)	Exhibits.

    Exhibit No.          Description	
    -----------          ---------------------------------------------
10.1                  Employment Agreement by and between      
                     Douglas A. Pertz and the Company dated 
                     as of September 15, 1998

    11.1                 Earnings Per Share Computation

    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:

A report under Items 2 and 7 dated September 15, 1998.

A report under Items 5 and 7 dated October 26, 1998.


**************************

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:  November 16, 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: general business and economic conditions in 
localities where the Company operates; the impact of competitive products; 
pressure on prices realized by the Company for its products; constraints on 
supplies of raw materials used in manufacturing certain of the Company's 
products; capacity constraints limiting the production of certain products; 
difficulties or delays in the development, production, testing and marketing of 
products; difficulties or delays in receiving required governmental and 
regulatory approvals; market acceptance issues, including the failure of 
products to generate anticipated sales levels; difficulties in integrating 
acquired businesses and in realizing related cost savings and other benefits; 
the effects of and change in trade, monetary and fiscal policies, laws and 
regulations; foreign exchange rates and fluctuations in those rates; the costs 
and effects of legal, including environmental, and administrative proceedings 
involving the Company, the completion of the Company's Year 2000 plan, and the 
other risk factors reported from time to time in the Company's SEC reports.