Agrium Hits New High

Fertilizer boom continues.

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We've been talking up fertilizer stocks around here all year, and today Agrium shot up 8 percent to an all-time high of $100 after raising second-quarter guidance. The Canadian chemicals maker now expects to earn $2.80 to $3 a share in the quarter, up from previous expectations of $2.50, and those numbers exclude a recent acquisition of UAP that could give results a "significant" boost.

With sales surging as farmers worldwide scramble to get more food harvested at a time when high prices (and shortages) abound, fertilizer makers have seen demand skyrocket. Fertilizer prices have climbed 65 percent from a year ago as of April, according to the USDA.