Tuesday, January 16, 2007

Agriculture chemical stocks fertile

Amid the drop in crude oil prices and the inevitable strain on energy stocks, the market has found good reason to be bullish on the global agriculture economy. Agriculture chemical stocks, in particular, have been especially bullish through the end of 2006...and have piled on even more gains in the new year. Agrium Inc. (TSX:AGU, NYSE:AGU) scaled $40 today reaching another new high. Monsato Co. (NYSE:MON) added another 5% to eclipse its 52-week high. Also hitting new highs were Terra Industries (NYSE:TRA), Bunge Ltd. (NYSE:BG), Dupont (NYSE:DD), and Hanfeng Evergreen Inc. (TSX:HF).

HF was a Stock Trends Pick of the Week and TSX Portfolio buy a year ago at $3.09, although the trade was stopped out on volatility in the spring ($3.70). HF has remained a ST Bullish stock and today's move to a new high of $5.15 promises further advances.

Stock Trends Report - TSX:HF:
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