Deere & Co. says it expects equipment sales to fall further as lower grain prices discourage farmers from buying tractors, harvesters and other machinery.
Shares of the world’s largest farm equipment maker fell as much as 4 percent in premarket trading.
Retail prices for U.S. beef and pork, already at record highs, will increase significantly again in 2015 on a combination of disease and the drought in Southern Plains, the U.S. Department of Agriculture says.
The farm equipment and implement business is bracing for a correction in corn- and soybean-dependent areas of the region. Dealers expect to be buoyed by livestock-related diversification, turf and construction areas in 2015.
WINNIPEG, Manitoba — There’s no big pull from the trade for canary. Many processors are still handling canary they wanted to move last summer but had been delayed, usually because transportation wasn’t available.
Wheat struggled last week, almost giving back all of its gains from the previous week. For the week ending Nov. 20, December Minneapolis dropped 4.75 cents, December Chicago slipped 13.25 cents and December Kansas City dropped 3.25 cents.
American Crystal Sugar Co. has come out with an initial payment projection of $37 per ton for 2014 crop beets — a dollar lower than last year’s projection at this date and likely a money-loser for farmers and shareholders, if realized.
Wheat started last week with gains, but slipped lower for the rest of the week. For the week ending Nov. 6, December Minneapolis dropped 20.25 cents, December Chicago slipped 12.25 cents and December Kansas City gave back 14.75 cents.
World food prices edged lower in October, after a series of sharp declines, as prices of oils and sugar rose while dairy and meat prices fell, the UN’s food agency says.
The Food and Agriculture Organization’s price index, which measures monthly price changes for a basket of cereals, oilseeds, dairy, meat and sugar, averaged 192.3 points in October, down 0.2 percent from September.
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