BUZZ-Agriculture stocks buck market slide after Israel attacks Iran

Reuters
06-13
BUZZ-Agriculture stocks buck market slide after Israel attacks Iran

** Shares of grain and fertilizer stocks rise on Fri, defying market trend as geopolitical tensions escalate

** Soybeans edged up and wheat futures bounced off a recent low on back of soaring crude prices after Israel conducted strikes on Iran GRA/

** Fertilizer firms CF Industries CF.N up ~5% and Mosaic MOS.N up 3%

** Grains traders Bunge BG.N and Archer-Daniels-Midland ADM.N up 5.4% and 3.7%, respectively

** CF and BG among top performers in S&P 500 .SPX, which is down about 0.8% .N

** ADM, a major U.S. soybean crusher and biofuel producer, slashed bids for soybeans this week ahead of an expected Trump administration announcement on biofuel blending requirements, a primary driver of demand for soybean oil

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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