Potash is in the Drivers Seat (POT, MOS, MON, SMG, TNH, IPI)
Shares of Potash Corp of Saskatchew (POT) are trading flat today after Citi analyst P.J. Juvekar gave the stock some bullish comments. Juvekar sees Potash having a strong second half of the year based on high grain prices and farmers looking to maximize yields. The news does not seem to be helping the Agricultural and Chemical Stocks Index, which is down 1%
Juvekar went on to say that certain phosphates from China may be limited going forward due to the nation’s tariff policy. In addition, supplies might tighten even further following the ruling that left Mosaic (MOS) unable to mine in South Meade, FL. The ban might cause Mosaic to have to purchase phosphate itself, which will further hamper supplies going forward. As prices for potash continue to rise and China sets its price, countries like India, which import all of its potash, that do not hold contracts could continue to keep the demand high, Juvekar said.
Elsewhere in the Index, shares of Monsanto Company (MON) are fractionally higher while Scotts Miracle-Gro (SMG) is fractionally lower. Terra Nitrogen Company (TNH) and Intrepid Potash (IPI) are both modestly higher on the day.
Investors can track the Agricultural Chemical and Fertilizer Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
More on this topic (What's this?)
Value Alert - The Mosaic Company (Wax Ink, 2/25/13)
(POT) Potash Corp of Sakatchewan Hikes Dividend by 33% (Stock Blog Hub, 2/25/13)
Where Is This ETF MOO-ving? (The Market Financial, 2/12/13)
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