August 17, 2009 / 4:16 PM / 8 years ago

Fertilizer stocks tumble as grain prices slip

* Potash Corp down more than 4 percent

* Shares of Agrium and Mosaic also lower

TORONTO, Aug 17 (Reuters) - Shares of North American fertilizer companies tumbled on Monday amid a broader selloff in equity markets and declining grain prices.

Shares of Potash Corp of Saskatchewan POT.TO POT.N, the world’s largest fertilizer producer were down 4.2 percent in Toronto at C$101.14 and off 4.4 percent at $91.35 in New York.

Shares of rivals Agrium Inc AGU.TO AGU.N and Mosaic Co MOS.N were down 4.9 percent and 5.2 percent, respectively on the New York Stock Exchange.

Chicago Board of Trade soybeans dived early Monday on technical weakness and prospects for a record-large U.S. soy crop amid ideal growing conditions. Corn and wheat followed the weakness in soybeans. [ID:nN17226274]

Shares of smaller fertilizer companies CF Industries CF.N, Terra Industries TRA.N and Intrepid Potash IPI.N were also down at midday.

CF shares were down 4.4 percent in New York, while Terra and Intrepid fell 3 percent and 5.4 percent, respectively. (Reporting by Euan Rocha; editing by Rob Wilson)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below