GACKLE, N.D. - Yield prospects for hard red spring wheat in southeastern North Dakota were below average following hot and dry weather during the growing season, scouts on an annual crop tour said Tuesday. But the Wheat Quality Council tour's early yield calculations were not as bad as some had feared. "So far, I would say this is better than what most folks expected," said Kevin Ernst, a broker with Chiodo Commodities who is on the tour.
A delegation of commodity importers from China, the world's top soybean buyer, signed agreements on Thursday to buy 12.53 million tonnes of the U.S. crop in the second-largest deal between the two countries, the U.S. Soybean Export Council said. The deal comes amid uneven relations between the two countries following the election of U.S. President Donald Trump in November. Traders and analysts said the agreements provided little insight for the market, as final prices and shipment dates were not specified.
Global commodities trader Cargill Inc reported a much higher quarterly net profit on Thursday, citing strong demand for beef and poultry and solid U.S. grain exports even as robust grain production posed a challenge. The privately held company, which is in the second year of a restructuring, said results were higher in each of its four business segments, and revenue set a two-year high. "The structural improvements we've made, as well as favorable conditions in some markets, have yielded strong results," Chief Executive Officer David MacLennan said in a statement.
WASHINGTON - U.S. spring wheat production will fall to a 15-year low, the government said on Wednesday, July 12, as crop development in top production state North Dakota has been crippled by searing heat and scant rains throughout June and July.
WASHINGTON - Microsoft Corp on Tuesday announced an initiative to bring high-speed internet to millions of rural Americans through unused television airwaves in a long-term bet for user growth. The Redmond, Washington, technology company proposed using spectrum typically reserved for TV stations to broadcast high-speed internet to underserved U.S. locations. To start, Microsoft will commit to a five-year effort to bring broadband connectivity to 2 million underserved rural Americans.
Amazon.com Inc. said it would buy Whole Foods Market Inc. in a deal valued at about $13.7 billion, including debt. The $42 per share offer represents a premium of 27 percent to the upmarket grocery chain's Thursday close. Whole Foods shares were halted at $32.77 in premarket trading, while Amazon's shares were up 0.5 percent at $969. Excluding debt, the deal is valued at $13.39 billion, based on 318.9 million diluted shares outstanding as of April 9.
ELK POINT, S.D. - In this rural outpost of just over 1,900 residents, a local college student has become a courtroom sketch artist, trailers on Main Street are ersatz offices for a major law firm and members of an agricultural youth club are puzzled by a new metal detector at the local courthouse.
WASHINGTON - The U.S. and Mexican governments reached a new agreement to significantly shift their sugar trade mix, but U.S. sugar producers have failed to endorse the deal, leaving question marks over whether it could still sour broader trade relations.
WASHINGTON - President Donald Trump’s proposals to slash federal aid to the poor, the sick and people living in rural areas reflect conservatives' demands for a smaller federal government but target many of the very people who voted for him last November. In his first detailed budget submission to Congress on Tuesday, Trump requested major reductions to programs that help poor families afford groceries and poor and disabled people get healthcare.
Deere's quarterly sales of farm and construction equipment rose for the first time in more than three years, and the company's rising profit and sales beat forecasts. It also bumped up its 2017 profit outlook. The strong results sent Deere stock sharply higher in early trading.