Fertilizer Stocks Ramp on USDA Crop Report
Tweet Send to a Friend
Get Alerts POT Hot Sheet
Up)
Trade POT Now!
Fertilizer stocks are jumping higher following the USDA crop report which showed a large cut in corn forecasts.
"The projected U.S. corn yield is lowered 20 bushels per acre to 146 bushels reflecting the rapid decline in crop conditions since early June and the latest weather data," the reports states.
Potash Corp. of Saskatchewan, Inc. (NYSE: POT) is up 2.4 percent, The Mosaic Company (NYSE: MOS) is up 1.5%, CF Industries Holdings, Inc. (NYSE: CF) is up 2%, Agrium Inc. (NYSE: AGU) is up 3.7%.
The thinking could be the higher crop prices could incite farmers to plant more next year, which of course could increase demand for fertilizer.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
"The projected U.S. corn yield is lowered 20 bushels per acre to 146 bushels reflecting the rapid decline in crop conditions since early June and the latest weather data," the reports states.
Potash Corp. of Saskatchewan, Inc. (NYSE: POT) is up 2.4 percent, The Mosaic Company (NYSE: MOS) is up 1.5%, CF Industries Holdings, Inc. (NYSE: CF) is up 2%, Agrium Inc. (NYSE: AGU) is up 3.7%.
The thinking could be the higher crop prices could incite farmers to plant more next year, which of course could increase demand for fertilizer.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- J.P. Morgan (JPM) CEO Dimon Might Have Enough Votes to Stay Chairman - NY Times
- Shorts Buried in MLM Companies (HLF) (USNA) (NUS)
- 50-Day SMA Crossers 05/20: (ELN) (ACI) (AAPL) Above; (MRK) (TLAB) (CLSN) Below
Create E-mail Alert Related Categories
Trader Talk
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
