CTVA - Barron's is bullish on six ag stocks poised to ride food prices higher

Prices of corn and other agricultural commodities have been soaring, but some closely-linked stocks have not kept pace, which Barron's says has created a buying opportunity in shares of ag companies such as Corteva (CTVA) and FMC Corp. (FMC)Both stocks fell sharply in recent days despite reporting better than expected quarterly earnings (I, II), as investors were disappointed that neither company materially raised full-year guidance even though crop prices are up.But if surging Chinese demand can continue to elevate commodity prices for the next couple of years, ag stocks don't look particularly expensive, Barron's believes.Deere (DE) and Corteva trade for ~21x times estimated 2021 earnings, in line with the S&P 500, while AGCO (AGCO) and FMC trade at a respective 16x and 15x estimated 2022 earnings, and fertilizer makers Mosaic (MOS) and Nutrien (NTR) trade at a respective 19x and 15x."Those multiples probably won't be going any higher, but investors don't need

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Barron's is bullish on six ag stocks poised to ride food prices higher