Ag Giants Soar On China Deal

Shares of agricultural giants rose on a deal with a Chinese importer that'll more than double the price of fertilizer exports. The deal is between Sinofert and Canpotex, a potash group that includes Agrium (NYSE:AGU - News), Mosaic (NYSE:MOS - News) and Potash (NYSE:POT - News). Seed king Monsanto will buy back up to an additional $800 mil in stock over 3 years. Agrium shares rose 10%, Potash 7.5% and Mosaic and Monsanto 7%.