[Featured Stock] Farmstory Rises on Soaring International Grain Prices... Hits 52-Week High
[Asia Economy Reporter Park Jihwan] On the 28th, Farm Story's stock price showed strength in the early trading session.
As of 9:56 AM that day, Farm Story was trading at 2,765 KRW, up 185 KRW (7.17%) compared to the previous trading day. During the session, the price rose to 2,990 KRW, setting a new 52-week high.
The strong performance of Farm Story's stock price is interpreted as being influenced by the global abnormal climate causing a rise in grain prices. Farm Story's main businesses include the manufacturing and sales of compound feed, pig farming, and slaughter products.
The futures price of soft wheat (raw material for flour) traded on the Chicago Board of Trade in the U.S. (5,000 bushels; 1 bushel is approximately 27 kg) recorded 680 USD as of last month. This is a 38.7% increase compared to the same period last year (490 USD).
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The spot price of U.S. white wheat also surged by 62% year-over-year, and the price of hard wheat rose by nearly 40%. This sharp increase in grain prices appears to reflect expectations of a rise in feed prices, which are Farm Story's main products.
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