CF Industries (NYSE:CF), Mosaic (NYSE:MOS), Agrium (NYSE:AGU) Soar on Corn Forecast

The fertilizer industry is popping today on the U.S. Department of Agriculture’s crop forecast report which lowered its forecast for corn. CF Industries (NYSE:CF), Mosaic (NYSE:MOS) and Agrium (NYSE:AGU)

Major crops corn, wheat and soybeans all rose on shrinking corn expectations.

CF is leading the sector higher, skyrocketing by $11.72, to increase to $110.36, an 11.88 percent gain a of 1:25 PM EDT. Mosaic was next, rising a hefty $5.83 to $67.39, gaining 9.48 percent, and Agrium followed with a gain of $5.52, up to $80.92, a 7.32 percent increase.

Also helping to push up prices was a nod from mining giant Rio Tinto (NYSE:RTP) that they are starting to be impressed with the fertilizer sector, especially potash.