SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Jul 20, 2012) - Shares of fertilizer companies have been on the upswing recently as the recent heat wave and drought hitting the Midwest has seen corn prices sky rocket. "We think North American fertilizer producers are poised to benefit from higher grain prices and the growing likelihood that the U.S. will need to plant another large corn and soybean crop in 2013," wrote Citi Investment Research analyst P.J. Juvekar. Five Star Equities examines the outlook for companies in the Agricultural Chemicals Industry and provides equity research on CF Industries Holdings, Inc. (NYSE: CF) and Mosaic Co. (NYSE: MOS).
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The current drought plaguing farmers across the U.S. is the worst in 25 years Agriculture Secretary Tom Vilsack said Wednesday. "This will result in significant increases in prices for corn. We've seen a 38 percent increase since June 1 in the price of a bushel of corn -- it's now $7.88. A bushel of beans has risen 24 percent," Vilsack said.
According to Vilsack the government has the number of territories designated as drought disaster zones standing at 1,297 in 29 states.
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CF Industries is a global leader in manufacturing and distribution of nitrogen and phosphate products, serving both agricultural and industrial customers. The company reported net sales in the first quarter were $1.5 billion, up 30 percent from $1.2 billion in the same period last year due to higher sales volume and nitrogen product prices.
Mosaic is a leader in the potash industry with annual capacity of 10.3 million tons. Their ongoing expansions -- consisting of nearly a dozen discrete, multi-year projects -- are expected to increase annual capacity by almost five million tons. The company reported fourth quarter fiscal 2012 net earnings of $507 million, compared to $649 million a year ago.
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