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By Stéphane Soussan, Senior Thematic Equities Portfolio Manager, CPR AM
The market environment for agriculture equities has been influenced by relatively strong grain productions over the last three years. November is usually the end of the harvesting period in the USA. Corn and soybean production should reach record level, up 12% and 11% respectively in 2016 compared to last year. In Brazil, planting is progressing well and soybean and corn production could increase by 6% and 25% in 2017 compared to 2016. In this environment grain prices have been under pressure.
We break down the agriculture value chain into six segments: Agricultural Products (grain, sugar producers for instance), Fertilizers, Agrichemicals (seeds and crop protection), Farm...
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