Demand for agricultural products has put a shine into the shares of Agrium Inc. this morning, as the stock has gained nearly 8% in premarket action after the company raised its second-quarter earnings guidance.
The Canada-based fertilizer company said strong results from its retail and wholesale operations amid high crop prices will push earnings to a range of $2.80 to $3 a share, up from the previous forecast for $1.92 to $2.22 a share. Chief Executive Mike Wilson said the fertilizer company foresees “an extended demand-driven cycle.” The improved guidance comes amid rising food prices and heavy demand for fertilizer. Shares of the stock have gained nearly 28% year-to-date
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