
Shares of agricultural commodities traders rise in afternoon trade
"Fertilizer stocks are up likely on good U.S. planting data and strong global demand for fertilizer, which could send prices higher" - Morningstar analyst Seth Goldstein
Based on the latest U.S. Department of Agriculture (USDA) report, corn plantings are 6% ahead of the 5-year average percent planted, while soybeans are 11% ahead
"This bodes well for farmers buying other crop inputs including fertilizer and crop protection chemicals" - Goldstein added
Mosaic MOS.N rises 3.8% and Bunge Global BG.N up 3.9%
Archer-Daniels-Midland ADM.N rises 2.3% and CF Industries CF.N up 4.4%
Shares of Canada-based Nutrien NTR.TO up 2.6%