Fertilizer Stocks Ramp on USDA Crop Report

July 11, 2012 8:55 AM EDT
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.

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