CF Industries Down 5% On Weak Crop Report

CF Industries Holdings, Inc. CF shares are getting crushed today, down almost 5% as the USDA released its crop report this morning. The report showed that more corn acres are going to be planted this year than expected, which is hurting shares of the fertilizer names today, including CF. The USDA says that 92.3 million acres of corn will be planted this year, well above the estimates of 90.8 million acres. This is a 5% increase over last year, and the second highest planting acreage ever, behind only 2007. At last check, shares were off $7.94 to $141.41, a loss of 5.32%.