It’s a well-known fact that I’m all about pick-and-shovel plays…
By that, I mean I don’t find much money in digging for gold. I find big profits in the shovels being used, or the “related industries.”
So when I figured out the surge in demand for agricultural commodities (such as land and machinery) is impacting things like fertilizers, you bet your bottom dollar that I got in on the trend.
In fact, the U.S. Department of Agriculture says net farm income will hit $113 billion in 2021 — that’s the highest it’s been since 2013, folks.
And luckily for you, I found the best agriculture stocks to grow our portfolios…
2 Agricultural Stocks to Grow Our Portfolios
The first agricultural stock that’ll help grow our portfolios is Nutrien Ltd. (NYSE: NTR).
I bet most of you could’ve already guessed this, but NTR produces and sells fertilizer and feed-related products.
It sells nutrients to more than 500,000 customers, so it’s easy to see the company is undergoing a period of strong growth.
I mean, NTR reported a record net earnings of about $1.1 billion in Q2!
NTR’s one-year return is around 73%, and it has had four quarters of better-than-expected earnings results with six strong buy recommendations.
I have a price target of $90 per share over the next quarter…
But I would wait for a shallow dip to the $65 level before pulling the trigger because its price appears a little overbought at the moment.
Check out my short video below to get the next agriculture stock to grow our portfolio with and a few other notable stocks on my radar right now.
Don’t forget to like and subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video and see what other trade opportunities we’re paying close attention to!
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