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03-16-2012, 12:40 PM
SAN FRANCISCO (MarketWatch) -- A bullish report on spring corn and wheat crop plantings pushed shares of fertilizer companies sharply higher Friday. U.S.-traded shares of Potash Corp. of Saskatchewan were leading gainers in the group, up as much as 4.8% at $44.62. Mosaic Co. shares were up 4.1% at $57.51, making it one of the S&P Index's top performers, while CF Industries Holdings Inc. shares were up 2.6% at $186.23. The rally was triggered by an Allendale Inc. survey that showed U.S. farmers plan to plant more acres of corn this year than the U.S. Department of Agriculture had predicted a month ago. The agriculture advisors' report also indicated a second consecutive year of higher wheat plantings is in store.
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