Monday morning, many of the leading agriculture stocks are trading slightly lower on the session. The Market Vectors Agribusiness ETF (NYSEARCA:MOO) is trading lower by 0.20 cents to $51.68 a share. Short-term traders can watch for intra-day support around the $51.30 level. The daily chart of MOO will have near-term support around the $50.25 level.
Some leading agriculture stocks that are trading lower today include Agrium Inc (NYSE:AGU), CF Industries Inc (NYSE:CF), Mosaic Co (NYSE:MOS), and Potash Corp./Saskatchewan (USA) (NYSE:POT). Most agriculture stocks will behave very similar to commodity stocks, therefore, these stocks will often trade inverse to the U.S. Dollar Index. Today, the U.S. Dollar Index is trading slightly higher on the trading day, hence the weakness in the agriculture sector.