Updated from 11:34 a.m. EDT
Agriculture stocks have been lighting up trading screens across Wall Street all week. Even when the entire stock market was dropping, this sector was bucking the downtrend and trading sharply to the upside.
Names such as China Green Agriculture(CGA Quote), Potash Corp. of Saskatchewan(POT Quote), Monsanto(MON Quote) and Terra Industries(TRA Quote) have all been ripping higher as investors bid up the entire sector off of Tuesday's World Agriculture Supply and Demand Estimates report. The report said U.S. commodities production will drop slightly while consumption will increase in May compared with last month. This drop in production will result in a reduction in world stocks.
Another positive report for the ag sector came out on Wednesday from the USDA. The report said for 2009 and 2010 the USDA expects the second-highest corn yields in history and extremely low stocks-to-use ratios. One more bullish data point for the ag sector was the China trade report that showed a 55% increase in soybean imports since last year. ...
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