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, ...
By Market News Video Staff, Friday, October 29, 11:22 AM ET
This morning, Credit Suisse made a valuation call when it downgraded shares of Archer Daniels Midland (NYSE:ADM) from outperform to neutral. The firm believes the share repurchase program, as well as, the better pricing on corn sweetner are already baked into the current share price. Shares of ADM had been approaching the firm's price target of $37 recently and have less room to run in the short term.
While shares of ADM are lower by 2.5% this morning, ETFs with exposure to the company have managed to fare better today. The First Trust Consumer Staples AlphaDEX Fund (AMEX:FXG) holds 4.86% of its fund in ADM and considers the company its top holding by weight. This ETF is unchanged in midday trading. And the Market Vectors Agribusiness ETF (AMEX:MOO) holds 4.7% of its portfolio in ADM and is higher by over 1% this morning. Gains from the funds top three holdings - Mosaic (NYSE:MOS), Deere & Co. (NYSE:DE) and Monsanto (NYSE:MON) - are more than compensating for the losses at ADM today.
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