Fertilizer Stocks Fall (AGU, POT, MON, MOS)

CBOT wheat prices have pulled back from 23-month highs on Friday. The run-up in wheat is due to a severe drought in Russia and has pushed up the price of other agricultural commodities as well. As a result of the surge in agricultural commodity prices, traders have bid up fertilizer stocks. During today's trading session, however, these names have fallen. Agrium AGU is down 1.92% to $65.86. Potash has lost 1.75% to $112.25. Mosaic MOS has shed 1.01% to $50.77 and Monsanto has lost 1.80% to $60.18.