The downward adjustment of corn production by the U.S. Department of Agriculture has driven up stocks in the agriculture sector Friday, including farm equipment makers CNH Global NV, (NYSE:CNH), Deere & Co. (NYSE:DE) and Agco Corp. (NYSE:AGCO)
Major fertilizer movers are CF Industries (NYSE:CF), Mosaic (NYSE:MOS) and Agrium (NYSE:AGU).
For the farm equipment companies, leading the sector is CNH Global NV, which stood at $41.34, gaining $3.65, or 9.68 percent at 1:38 PM EDT. Agco Corp. was right behind them, rising to $42.81, a gain of $3.60, or 9.18 percent. Deere surged to $76.32, gaining $4.42, or 6.15 percent.
Corn, wheat and soybeans were all up on the downwardly revised corn expectations.
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