3 Agricultural Stocks Poised to Benefit from Drought
The government recently reported the drought is the worst in more than 50 years, with about 56% of the continental U.S. suffering from a moderate to severe water shortage, which is part of a worldwide trend attributed in part to global warming. That's resulting in huge corn and soybean crop failures.
That means that demand for drought-resistant seeds and other such products should benefit a select few agricultural companies that have histories of applying technology to seed development.
These firms have applied biotechnological approaches to plant and fruit genetics, resulting in genetically modified seeds that make them resistant to pests and herbicides, which helps improve crop yields significantly.