This morning, many of the leading agriculture stocks are trading higher despite the weakness in the major stock indexes. CF Industries holdings Inc (NYSE:CF) is considered to be one of the leading agriculture stocks in the sector. Today, CF stock is trading higher by $7.00 to $184.70 a share. Short term traders should watch for intra-day resistance around the $185.00, and $191.00 levels. ...
This morning, the leading agriculture stocks are coming under some early selling pressure. This important sector has been very range bound over the past three months. Potash Corp./Saskatchewan (USA (NYSE:POT) is considered one the best stocks in the sector. Today, the stock is declining lower 0.53 cents to to 45.94 a share.
This morning, all of the leading agriculture stocks are coming under heavy selling pressure along with the major stock market indexes. The Market Vectors Agribusiness ETF (NYSEARCA:MOO) is trading lower by $1.24 to $50.72 a share. The MOO should have some short term daily chart support around the $50.00 level. The MOO will have intra-day support around the $50.50 area.
This morning, the leading agriculture stocks are all trading higher to start the day. The Market Vectors Agribusiness ETF (NYSEARCA:MOO) is trading higher by 0.46 cents to $53.34 a share. The MOO is trading above all of the major daily chart moving averages which puts the stock in a strong technical position. Traders must recognize that the MOO is now getting a little extended and overbought.
This morning, most of the leading agriculture stocks are coming under early selling pressure. This industry group is trading into heavy resistance on the daily charts. The Market Vectors Agribusiness ETF (NYSEARCA:MOO) is a good way to track the agriculture sector. Today, the MOO is trading lower by 0.39 cents to $48.66 a share.
This morning, all of the major stock market indexes are trading sharply higher. For the most part, the rally is broad based as most important stock sectors are climbing. The one sector that is struggling and continuing to show weak relative strength is the agriculture sector. Many of the leading stocks in this sector are actually trading lower as the major stock indexes climb.
The leading agriculture stocks have not really rallied higher with the major stock market indexes. Traders can simply look at a chart of Potash Corp Sask Inc (NYSE:POT) which is the leading agriculture stock in the market at this time. The stock appears to be very weak.
Ethanol producers are in for sweet profits the next few quarters. Losses will swing to profits and profits will grow. The reasoning for this is simple. The price of the commodity corn has collapsed while the price of ethanol have remained relatively unchanged.
