No Quit in Farm Related Stocks

With corn prices having climbed to another high in Monday’s trading, extending the records reached over the course of the last week, shares of agriculture plays continued to mount an assault on valuations. Shares of fertilizer maker Agrium (AGU) moved up 3% in the sesssion, while Mosiac (MOS) reached a high of $157 before backing off, and CF Industries (CF) added 4%. All three have moved to new highs in the session. The gains have come as ragged weather throughout the midwest has kept farmers from planting as much corn seed as experts expected, and the demand for alternative fuels continued to divert some of the corn crop to the biofuels market.