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Commodities & Metals

Potash Fertilizer Makers Get Bump on US Planting Estimates (POT, MOS, CF)

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By Paul Ausick Published

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US plantings of wheat and corn this year will be higher than the most recent US Department of Agriculture survey according to new survey results from Allendale Inc. cited by Bloomberg News. The firm forecasts that corn planting will rise to more than 95 million acres, higher than last year’s total of 91.9 million acres and higher than last month’s USDA forecast of 94 million acres. Wheat planting will rise to nearly 57 million acres.

Potash fertilizer makers are getting a nice share-price bump on the news, with Potash Corp. of Saskatchewan (NYSE: POT) rising more than 5.5%, Mosaic Co. (NYSE: MOS) up about 4.25%, and CF Industries Holdings Inc. (NYSE: CF) up about 2.35%.

Shares of Potash Corp. and Mosaic are down about -17% and -24%, respectively, over the past 12 months. CF Industries’ shares are up about 46% in the same period, mostly on the strength of the demand for nitrogen fertilizer.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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