The Department of Agriculture and Department of Justice will investigate suppliers of crop inputs such as seeds and fertilizers for potential antitrust violations, Erin Ailworth of Bloomberg reports, citing comments made by Agriculture Secretary Brooke Rollins. The agencies signed a memorandum of understanding to “take a hard look and scrutinize competitive conditions in the agriculture marketplace, including antitrust enforcement that promotes free market competition,” Rollins said Thursday during a conference in Missouri. Shares of Mosaic (MOS), Nutrien (NTR), Intrepid Potash (IPI), ICL (ICL) and Deere (DE) moved lower following the report.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MOS:
- Early notable gainers among liquid option names on September 25th
- Interior Department includes potash as critical minerals draft list
- Intrepid Potash, Mosaic, Nutrien rally after Interior Department draft list
- Mosaic price target lowered to $39 from $42 at Scotiabank
- Mosaic price target lowered to $40 from $45 at RBC Capital