Due to some recent strategic acquisitions, most notably one of Agrium's top rivals UAP Holding Corp., and increases in crop-nutrient prices Agrium's profits went through the roof. A seven fold increase topping analysts estimates. Agrium's sales have also tripled to 3.18 Billion, partly due to the afore mentioned acquisition.
Another stock that will inevitably trend higher based purely on the global demand for agricultural production. May take a few months to shake off the pullback but I expect this stock to have substantial gains by the first quarter of 09'
Our longer term signals are firmly negative and our supertradetimer.com signals are showing short signals for the entire Fertilizer sector as of Wednesday afternoon.
While corn ethanol is being wrongly coronated as the preferable biofuel farmers are trying to get every acre of corn they can. This gives AGU huge pricing power and they have raised rates considerably and appear to be able to do so into the future.
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About Agrium Inc.
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