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Agriculture

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  • Deere challenged by stronger dollar   Friday, 22 May 2015 | 2:15 PM ET
    Deere challenged by stronger dollar

    CNBC's Mary Thompson provides insight to Deere's revenue and profit in the second quarter.

  • Wal-Mart urges meat suppliers to curb antibiotic use Friday, 22 May 2015 | 1:42 PM ET

    CHICAGO, May 22- Wal-Mart Stores Inc is pressing meat, seafood, dairy and egg suppliers to reduce the use of antibiotics, becoming the first large retailer to take a stand against the excessive use of drugs in raising farm animals. Wal-Mart, the country's biggest food retailer, is also telling suppliers not to raise animals in gestation crates or in other...

  • Nevertheless, total egg production rose slightly in April, supported by a greater output of eggs for hatching into meat-producing birds and more egg-laying hens, the USDA reported. The USDA's Animal and Plant Health Inspection Service has since confirmed cases in 54 Iowa flocks containing more than 26 million birds, most of them egg-laying hens.

  • Trader: Deere goes above $100   Friday, 22 May 2015 | 12:41 PM ET
    Trader: Deere goes above $100

    FMHR trader Josh Brown thinks Deere goes higher, while Stephen Weiss takes a bearish stance.

  • For the corn lobby, which represents corn-based ethanol producers, the EPA's proposals will signal whether Big Oil is winning a battle over market share or whether the political tide can be turned back in ethanol's favor despite opposition from car manufacturers, among other industries. "It would be crazy not to acknowledge the blend wall," said Jeremy Martin of...

  • No sunny side: Bird flu squeezing egg prices Friday, 22 May 2015 | 12:10 PM ET
    Eggs

    Normally a low-cost egg producer, the U.S. might be looking to import more costly eggs as the bird flu outbreak spreads.

  • Making wine from wastewater: No, it's not a joke Friday, 22 May 2015 | 12:00 PM ET
    Green Island Vineyards grows Pinot Noir grapes for top Napa Valley wineries, and uses treated wastewater to irrigate.

    "California has a lot of growing up to do on how to use water well," says a Napa wine grape grower who uses recycled wastewater to irrigate his vines.

  • CHICAGO, May 22- Deere& Co on Friday reported a higher-than-expected quarterly profit and raised its full-year outlook after cost cuts helped compensate for weakening demand for its farm equipment. "We are pleased to see Deere management proactively attacking costs... amid the agriculture downturn," Edward Jones equity analyst Matt Arnold wrote in a note for...

  • Grain lower, livestock mixed Friday, 22 May 2015 | 10:53 AM ET

    CHICAGO— Grain futures were lower Friday in early trading on the Chicago Board of Trade. Wheat for July delivery was unchanged at $5.22 a bushel; July corn was 2.75 cents lower at $3.6225 a bushel; July oats were unchanged at $2.4425 a bushel; while July soybeans fell 3.5 cents to 9.35 a bushel. August live cattle was. 05 cent lower at $1.5085 a pound; August feeder...

  • Drought-ridden California faces new water cuts Friday, 22 May 2015 | 9:49 AM ET
    A worker plows a field in Firebaugh, California.

    California farmers expect to get an answer on their offer to give up a quarter of their water in exchange for being spared deeper cutbacks.

  • NEW YORK— Wal-Mart's push to get its suppliers to give farm animals fewer antibiotics and more room to roam is expected to have a big impact on the food industry, experts say. Though the steps are voluntary, Wal-Mart, which sells more food than any other store, has a history of using its retail muscle to change the way products are made and sold across the retail...

  • CHICAGO, May 22- A weak global agriculture sector weighed heavily on quarterly results posted by Deere& Co on Friday, but earnings still topped expectations, and the farm equipment maker raised its full-year profit forecast despite a worsening sales outlook. Sales for agricultural equipment in the United States and Canada should fall about 25 percent this...

  • MOLINE, Ill.— Solid sales in its construction equipment offset a global agricultural slowdown for Deere, and the company raised its outlook for the year. In April, builders broke ground on homes at the fastest pace in more than seven years, according to the Commerce Department. Deere said sales of farming equipment fell 25 percent from a year ago to $5.77 billion in...

  • CHICAGO, May 22- Farm equipment maker Deere& Co posted a sharply lower quarterly net profit on Friday as a weak global agriculture sector hurt sales, but still came in handily above market expectations. The Moline, Illinois- based company reported a profit of $690.5 million, or $2.03 per share, for its second quarter ended April 30, down nearly 30 percent from $980.7...

  • TREA: Thai rice subsidy scheme was 'nonsense'   Thursday, 21 May 2015 | 11:24 PM ET
    TREA: Thai rice subsidy scheme was 'nonsense'

    Vichai Sriprasert, honorary president of Thai Rice Exporters Association (TREA), says prices of grains now adhere to market mechanisms after the military ended the controversial price-support scheme.

  • *Vietnam, Thailand, Cambodia qualified to bid. The move would be good news for regional rice markets that have been flagging this year due to oversupply, with an official telling Reuters by text that Vietnam, Thailand and Cambodia were qualified to submit offers. The Southeast Asian nation recently bought 500,000 tonnes via government-to-government deals...

  • CHICAGO, May 21- Rembrandt Enterprises, one of the top U.S. egg producers, said on Thursday it would temporarily cut 39 full-time employees, after the company's poultry facilities in Renville, Minnesota, tested positive for the fast-spreading avian influenza virus. Rembrandt's Renville plant has been quarantined by the Minnesota Board of Animal Health, the...

  • NEW YORK, May 21- Russia's EuroChem is open to selling potash fertilizer together with rival Uralkali once it finishes building two mines, but it is too soon to pursue the idea, a senior executive in the private company said on Thursday. EuroChem, which has revenues of $5 billion, expects to complete construction of its Volgakaliy and Usolskiy mines in Russia's...

  • Grain higher, livestock mixed Thursday, 21 May 2015 | 10:54 AM ET

    CHICAGO— Grain futures were higher Thursday in early trading on the Chicago Board of Trade. Wheat for July delivery was 4.50 cents higher at $5.1750 a bushel; July corn was 4.25 cents higher at $3.6425 a bushel; July oats were unchanged at $2.41 a bushel; while July soybeans gained 3.75 cents to 9.45 a bushel. August live cattle was. 53 cent higher at $1.5025 a pound;...

  • But move would be good for rice exporters Thailand, Vietnam. JAKARTA, May 21- Indonesia's president could be forced to backtrack on promises to curb rice imports, with analysts saying the country may ship in as much as 1.6 million tonnes of the staple grain this year due to soaring prices at home and the threat of a strong El Nino. "Sometimes Indonesia's policy isn't...