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Message: High levels for corn in US code bode "ill" for fertilizer stocks

for those like me who are watching agriculture, this report from BMO seems like it may be negative for fertilizer stocks (sorry you need to go down to the 3rd segment):

Oil & Gas: Natural Gas Injection Above Expectations (10:51)
Impact: Negative
The U.S. Energy Information Administration (EIA) reported an injection of 74 Bcf, above expectations for a build of 68 Bcf. This week's injection is above last year's build of 65 Bcf and the five-year average injection of 67 Bcf. U.S. working gas in storage is at 3,414 Bcf, which is 6.3% above the five-year average of 3,212 Bcf, but 4.6% below last year's level of 3,580 Bcf. Weather forecasts for the ... [more]
Sectors: Oil & Gas
Enerplus Resources Fund: Conversion Plans Announced (CDN Equity) (10:23)
(ERF.UN-TSX; ERF-NYSE) Market Perform; Price - $25.77; Target - $26.00
Impact: Neutral
Enerplus will be seeking unitholder approval to convert from an income trust to a corporation (Enerplus Corporation) at a special meeting of unitholders to be held on December 9, 2010. Enerplus expects the conversion will become effective January 1, 2011. Following conversion, management has indicated they intend to initially pay a dividend of $0.18/share per month, on par with its current distribution policy and our ... [more]
Fertilizers: U.S. Corn Stocks Larger Than Expected (10:14)
Impact: Potentially Negative
This morning, the USDA released its quarterly grain stocks report. As of September 1, 2010, the USDA reported U.S. corn stocks of 1.71 billion bushels, which are 322 million bushels larger than the USDA’s projection in the September 10 WASDE report. The larger-than-anticipated carry-in stocks will negatively impact the USDA’s projections for 2010/2011 U.S. corn ending stocks (to be released on October 8 in the upcoming WASDE report).
Sectors: Fertilizers
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