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In this installment of our special series we look at a plague of biblical proportions – you might remember its wrath was delivered upon ancient Egypt. We’re talking about drought. Although the modern world is somewhat better irrigated drought remains a destructive force in many parts of the globe.
Since 2001, we’ve been under a brutal dry-spell here in America. Reservoirs in Colorado have been depleted and a lake in Florida became so dry it actually caught fire. But it looks like we’ll be spared the worst of it. The heavens opened up recently ensuring a strong planting season at home.
Unfortunately, farmers down under must continue to pray for rain. Scorching conditions in Australia threaten to wipe out their wheat crop. That means, even after doubling over the last there years, the price of wheat is likely to continue to surge.
With so many countries demanding more and more grain how should you trade as the world struggles with drought?
I’d look at Lindsay Corp [LNN
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] as an irrigation play, says Pete Najarian. They infuse chemicals into the water to increase the crop yield.
Pentair [PNR
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] is the name I like, says Guy Adami. They make the pipes that carry water. It’s a buy around $33.
I think the ag names are overgrown and are going to break, says Jeff Macke. That's my trade!
We’ve been talking about the Bible so much I recommend Domtar [UFS
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] as a maker of uncoated freesheet paper.
Read More:
When God Moves Markets: Hurricanes Pt. 2
When God Moves Markets: Hurricanes Pt. 1
Check Out These Other Posts |
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Trader disclosure: On June 4, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (HAS), (INTC), (MSFT), (DIS); Adami Owns (BTU), (C), (AGU), (GS), (INTC), (MSFT), (NUE); Najarian Owns (AAPL), (ANR), (BHI), (CHK), (HPQ), (TSO), (XLF); Najarian Owns (LEH) Puts; Finerman Owns (GS); Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm And Finerman Own (FLS); Finerman's Firm Owns (AAPL), (MSFT), (NYX), (SUN), (TSO), (VLO), (UFS) Finerman's Firm Owns SPX Index Puts; Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY)
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