Record diesel prices and uneven agriculture exports are heaping more uncertainty onto crop traders and farm machinery makers that are pining for a long-awaited recovery to take hold.
The Commodity Futures Trading Commission plans to double the frequency with which it publishes a widely followed report on futures and options trading positions.
Corn plunged by the most in three years after the US Department of Agriculture raised its outlook for yield and production of the top American crop, when most analysts expected a cut.
Cargill Inc.’s fiscal first-quarter earnings fell by more than half as the largest private company in the US was pressured by higher costs for cattle and cocoa despite also benefiting from stronger results in soybeans.
Crop prices were dropping with no sales of American supplies reported to China so far this week ahead of Thursday’s summit between US President Donald Trump and his Chinese counterpart Xi Jinping.
Corn was moderately lower Tuesday as traders waited to see if China will buy any US grain during this week’s summit in Washington while drier weather conditions should allow farmers to ramp up harvest activity.
China has fulfilled more than half of its annual US soybean purchase pledge, offering a bright spot for trade between the world’s two largest economies ahead of President Xi Jinping’s visit to Washington.
Artificial intelligence use is surging on farms as growers look for some high-tech help in planning and managing operations after years of scaling back on spending, according to McKinsey & Co.
Farmers are getting some help sorting through the reams of data collected by their high-tech tractors: An AI assistant named JD built into Deere & Co.’s Operations Center mobile application.
Extreme weather is trimming US harvests and boosting prices for farmers just as top commodities importer China is increasing soybean purchases to meet a commitment struck between the two nations’ leaders.
Deere & Co. shares jumped after the tractor maker said it’s seeing a boost in orders for its machinery, raising hopes that the agriculture sector is poised for recovery.
Corn futures soared by the most since June after the US Department of Agriculture delivered a bigger-than-anticipated reduction in yield as hot weather impacts America’s top crop.
Wheat was higher as traders braced for the US Department of Agriculture’s monthly supply demand report that’s expected to show declining domestic and world grain supplies.
China booked another flurry of US soybean cargoes, as the country makes headway toward fulfilling the purchase pledge made as part of a trade truce struck last year.
The farm machinery sector is primed for a rebound in 2027 as the current fleet ages and prompts growers to upgrade, according to tractor maker CNH Industrial NV.
For farmers in North Dakota surveying their wheat as harvest closes in, scorching heat is threatening yields just as crop prices rise to a three-year high.
Corn and soybean futures were easing on pressure from an improving US weather outlook as traders looked ahead to the monthly WASDE supply and demand outlook due Friday.
Anmelden
