Agribusiness Stocks Lagging

Such concerns were reflected in a negative report on Monsanto Co. last week from UBS analysts Chris Shaw and Joe Dewhurst.

While the analysts praised the company's long term prospects, they advised investors to sell the stock because more farmers like Witt might switch from growing corn to soy beans partly due to rising fertilizer costs.

Because selling corn seeds is more profitable for Monsanto, the switch could cut into the firm's bottom line, according the note.

Witt said he's not switching to soy beans, but he's not expecting a bang-up year either.

"The gross dollars are large we're handling a lot of money. But when it's all said and done, we're not going to keep any of it at the end of the year," he said.