) has entered into an agreement with
), wherein, Monsanto will offer the use of its Climate Pro platform
to Crop Production Service's ("CPS") grower customers. CPS is the
retail unit of Agrium.
CPS remains focused on providing customers with the products and
services required to grow the best quality crops. The Climate Pro
platform will fit well with CPS's present comprehensive precision
agriculture products and services offering, known as Echelon.
Precision agriculture is an integrated information farming system
offering the latest farming technology and data management. In Mar
2014, Agrium announced that it has rebranded its precision
agriculture platform as Echelon, which includes best in class
solutions for precision soil sampling, variable rate nutrient and
seeding recommendations, yield data analysis, weather monitoring,
precision field scouting and tissue sampling, aerial imagery
analysis, record keeping and reporting. Echelon's compatibility
with most major equipment and controller makers allows farmers to
access and act on their data from one system.
Agrium, through its Echelon brand, provides growers with easy
access to their information and expanding the technology solutions
which offers continual focus on seeding rates, nitrogen management
and advanced analytics. Echelon is currently available across the
U.S. and Canada.
Agrium released its first-quarter 2014 results last month. The
company's profit tumbled in the quarter as unusually cold weather
in North America hit its businesses. Reduced railway availability
and lower prices for nutrients in the wholesale business also
weighed on the bottom line.
Agrium posted profit from continuing operations of $12 million or 8
cents per share in the reported quarter, falling roughly 92% from
$146 million or 98 cents per share logged a year ago.
Agrium is a Zacks Rank #3 (Hold) stock.
Other companies in the basic materials sector worth considering
Compass Minerals International Inc.
Yara International ASA
). While Compass Minerals holds a Zacks Rank #1 (Strong Buy), Yara
International carries a Zacks Rank #2 (Buy).
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