CHS expands further into Canada, buys 16 Agrium farm outlets

U.S. farm co-operative CHS agrees to buy 16 Canadian farm retail outlets from Agrium (AGU +0.6%) and says it plans to further expand its business in Canada.

The deal includes eight stores that sell seed, chemicals and fertilizer to farmers, as well as eight ammonia tank businesses, located in Alberta and Saskatchewan, the two biggest wheat- and canola-growing Canadian provinces.

Separately, AGU and fertilizer peers Potash (POT +1.1%) and Rentech Nitrogen Partners (RNF +1.4%) are upgraded to Market Perform from Underperform at Cowen on the possibility that fertilizer prices could rise; the possibility of a late start to fertilizer application, which would pressure logistics systems, may lead to even higher near-term prices, the firm says.

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Comments (1)
  • Sabre3
    , contributor
    Comments (12) | Send Message
    I thought Agrium was expanding, not selling off outlets??? Perhaps because of the Russian cartel shenanigans?
    19 Mar 2014, 02:42 PM Reply Like
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