Deere Expected to Report Weakest Q4 Since 2020
Sales of agricultural tractors continued their decline in October, with U.S. sales falling about 14% from the previous year, the Association of Equipment Manufacturers said in a report.
Deere Cuts 300 Jobs as Farm Equipment Sales Decline
Deere said it boosted its workforce when demand surged during the COVID-19 pandemic, which roiled supply chains, only for the farm economy to start slowing.
In a Surprise, Deere Keeps Outlook Despite Weak Market
Deere & Co. unexpectedly maintained its annual profit outlook as the world’s top tractor maker sought to cut costs in a slumping farm economy.
Silicon-Focused Battery Startup NanoGraf to Open Chicago Plant
NanoGraf, a startup specializing in high-performance batteries made using silicon, is close to starting operations at a facility near Chicago’s central business district.
Low Water Levels on Mississippi River Delaying Barge Cargo
Barge operators are running lighter loads on the Mississippi River to compensate for the lack of water from months of dry weather. Prices paid to farmers for their crops are easing as a result.
Deere Raises Profit Outlook With Farmer Demand Still Strong
Deere & Co. lifted its financial outlook for the year as machinery demand from farmers remained robust despite slumping crop prices.
Tyson Foods’ Earnings Beat Estimates on Soaring Meat Prices
Tyson Foods Inc., the top U.S. meat company by sales, reported better-than-expected earnings as surging prices for beef and chicken helped to offset a decline in volumes amid a tight labor market.
Cargill to Pay Growers for Carbon-Friendly Farming Methods
Commodity superpower Cargill Inc. is starting to pay American farmers to adopt growing practices that boost soil health and trap carbon.
Tyson Earnings Top Estimates on Beef Demand
Tyson Foods Inc., the biggest U.S. meat company, reported better-than-expected fiscal second-quarter earnings and raised its sales forecast as beef markets strengthen and the company increases prices to pass through higher costs.
Top Pork Producer Smithfield Makes Room in Freezers for Vaccine
Smithfield Foods Inc., the world’s biggest pork producer, is willing to share space in its ultra-low-temperature freezers to store COVID-19 vaccines, the company said Dec. 3 in an emailed statement.