NEW YORK, NY -- (Marketwire) -- 04/02/12 -- The Agricultural Chemicals Industry looks to gain, as rising prices for corn and oilseeds look to entice North American Farmers to shift focus. Oilseeds all demand a high degree of fertilizer. Nitrogen, potash and phosphate are the most important fertilizers that farmers apply. The Paragon Report examines the outlook for companies in the Agricultural Chemicals Industry and provides equity research on CF Industries Holdings, Inc. (NYSE: CF) and Monsanto Company (NYSE: MON).
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Droughts across South America are expected to cause sharp declines in global soybean production, which is driving up the price of oilseeds, including canola oil, Canada's second most-valuable crop. The weaker-than-normal supply of oilseeds is already pushing up prices. The U.S. Department of Agriculture says cash prices for soybeans rose by about $1 per bushel last month, pushing toward $13 a bushel.
"Richer returns are expected to encourage North American farmers to dedicate more of their acreage to soybeans, canola and even corn, all which demand a high degree of fertilizer to produce good crops," said Patricia Mohr, vice-president of economics and commodity market specialist at Bank of Nova Scotia.
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CF Industries Holdings, Inc. is a global leader in fertilizer manufacturing and distribution, the second largest nitrogen fertilizer producer in the world and the third largest phosphate fertilizer producer among public companies. CF Industries owns and operates world-scale nitrogen and phosphate plants and serves agricultural and industrial customers through its best-in-class distribution system.
Monsanto Company announced it will issue the company's financial results for its fiscal 2012 second quarter on Wednesday, April 4, 2012, prior to market open.
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