Potash Buyout Creates Interesting Scenarios For MOO Friday, August 27, 2:18 PM ET, by Market News Video Staff The Market Vectors Agribusiness ETF (MOO) is having a particularly strong day on Friday, gaining ...
Agriculture ETF Sprouts Roots Wednesday, September 8, 11:35 AM ET, by Market News Video Staff The PowerShares Global Agriculture Portfolio ETF (PAGG) has returned 26.6% in the last three months, ...
Citigroup Upgrades Mosaic - PAGG and MOO Gain Wednesday, October 20, 11:07 AM ET, by Market News Video Staff This morning, Citigroup upgraded shares of Mosaic (MOS) from Hold to Buy as pricing and ...
Corn Supply Concerns Help Fertilizers and Agriculture ETFs
By Market News Video Staff, Friday, October 8, 11:47 AM ET
This morning, the Department of Agriculture reduced its corn production forecast by 3.8%, meaning 2010 suppy will not meet demand. On the news, investors poured into fertilizer companies as farmers will be looking to boost crop output to take advantage of the soaring corn prices. Shares of Mosaic (NYSE:MOS) are higher by 7%, CF Industries (NYSE:CF) by almost 10%, and Agrium (NYSE:AGU) gain a little more than 6%.
Also benefitting this morning has been agriculture ETFs. The Market Vectors Agribusiness (AMEX:MOO) is showing gains of 3.3% today as almost 14% of the portfolio is made up of the three stocks above and the PowerShares Global Agriculture Portfolio ETF (NASDAQ:PAGG) is higher by 3.1% as 15% of its portfolio is made up of MOS, CF and AGU.
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