Agriculture stocks jump; Mosaic hits over 10-year high

Intrepid Potash

06/04/2022 16:24

** Fertilizer maker Mosaic Co  MOS.N  hits its highest since
2011 after climbing as much as 6.5% to $72.16; co leads S&P 500
Index  .SPX  gainers
    ** CF Industries  CF.N  and grains giant
Archer-Daniels-Midland Co  ADM.N  jump as much as 6.7% and 2.7%
respectively, a few cents away from their all-time highs hit
late last month
    ** CF and ADM also among S&P 500 toppers
    ** U.S.- and Canada-listed shares of Nutrien Ltd  NTR.N 
 NTR.TO , the world's largest fertilizer maker, up ~3% each
    ** Intrepid Potash Inc  IPI.N  jumps 11.9%, ADM rival Bunge
Ltd  BG.N  adds 2.4%
    ** Artillery pounded key cities in Ukraine on Wednesday,
while the White House and European Commission mulled fresh
sanctions on Russia  urn:newsml:reuters.com:*:nL5N2W35OM
    ** Fertilizer companies have surged to record highs during
the Ukraine crisis as restrictions on Russia and its ally
Belarus, the No.2 and 3 suppliers of key ingredient potash, have
stoked supply concerns  urn:newsml:reuters.com:*:nL3N2VZ2YD
    ** Meanwhile, grains firms have also surged on the
Ukraine-Russia war as the two countries account for ~29% of
global wheat exports and 19% of corn exports  urn:newsml:reuters.com:*:nL3N2VR3GU
 urn:newsml:reuters.com:*:nL3N2VP2RF

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com;
Twitter: https://twitter.com/ruhithere;))