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Agriculture Stocks Sprout On Weaker Dollar



May 16, 2011 – Comments (0) | RELATED TICKERS: MOS , POT , MON

This morning, the leading agriculture stocks are bouncing higher this morning as the U.S. Dollar Index pullbacks back. Often the agriculture stocks will behave very much like a commodity stocks and react positive from a weaker dollar. 

Potash Corp Sask Inc.(NYSE:POT) is one the leading agriculture stocks in the market. The stock is trading higher by $1.34 to $52.93 a share this morning. Traders should watch for some intra-day resistance around the $53.00 area and more around $53.75 level. As long as the U.S Dollar Index remains weak this market leader could trade higher intra-day.

Other leading agriculture stocks that are trading higher this morning include Monsanto Co.(NYSE:MON), Mosiac Co.(NSE:MOS), and Agrium Inc.(NYSE:AGU). These stocks are all trading higher on the back of a weaker U.S. Dollar Index. Should the U.S. Dollar Index catch a bid higher today these stocks could pullback intra-day. Remember, every trade is essentially a trade on the dollar.

Nicholas Santiago

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