Agrium Leads Agriculture-related Stocks Higher
Agrium Inc. (AGU.TO) is among Canadian agricultural products and services suppliers getting a boost after Statistics Canada reported Thursday that Canada's farmers planted less wheat this spring than planned due to wet weather.
But analysts say plantings are likely even smaller than the report indicates because flooding worsened after the agency's farmer survey, Reuters said.
Lower production tends to increase demand, and push up prices which will, in turn, boost a company's bottom line. Agrium is up 23 cents at $81.69, and it has touched a day high $82.17.
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