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Origin Agritech Rises 13% On New Purchase Agreements

Shares of agriculture technology company Origin Agritech Ltd (SEED) are rising 13 percent on Thursday's trading after the company announced that it has signed purchase agreements to sell two feedstock companies a total 50,000 metric tons of its nutritionally enhanced corn.

Origin Agritech's nutritionally enhanced corn brings down the need for expensive additives such as soybean meal for feedstock companies, and thus doubles their margins.

Currently at $8.30, the stock has traded between $4.21 and $17.54 during the past 52 weeks.

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