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CNBC reported the rise in the prices of fertilizer companies’ shares due to a shrinking corn crop, indicating that fertilizers will be needed to boost the crop.
CNBC reported the rise in the prices of fertilizer companies’ shares due to a shrinking corn crop, indicating that fertilizers will be needed to boost the crop.
As quoted in the report:
Shares of Mosaic increased 17 cents to $54.92 in afternoon trading. Potash Corp. of Saskatchewan Inc.’s shares rose 23 cents to $44.17. CF Industries Holdings Inc.’s shares gained $1.61 to $192.58.
Don Carson of Susquehanna Financial Group noted:
Bad news for harvests is good news for fertilizer makers though, as demand will surge as farmers nurture crops in the fall. He also said reports of potassium-deficient soils in the Midwest, where the bulk of the corn is grown, should drive up demand for potash, one type of fertilizer.
Click here to read the full CNBC report.