Farm-machinery maker Deere & Co raised its annual profit forecast and beat first-quarter results estimates on Thursday citing cost-cutting initiatives to protect margins and recovery in its construction and small agriculture units.
Daily news
Deere lifts full-year profit forecast as construction, sales rebound; shares soar
Canada’s global trade gap narrows; U.S.-bound exports hit new low
Canada’s trade deficit narrowed in December even as its share of exports to the United States dropped to the lowest level on record, barring two months during the peak of the COVID-19 pandemic, data showed on Thursday.
Minor tweaks in AAFC supply and demand report
There were only small changes in the latest supply and demand estimates from Agriculture and Agri-Food Canada released on Feb. 18.
International trade minister visits Singapore, Vietnam
Canada’s minister of international trade met with Vietnam and Singapore government officials to emphasize the need for free trade, highlight Canadian agri-food products, and to announce projects aimed at strenghtening trade with those nations.
Bayer: glyphosate shortages not expected outside U.S. after Trump invokes Defense Production Act to secure supply
U.S. President Donald Trump on Wednesday signed an executive order invoking the Defense Production Act to ensure an adequate U.S. supply of elemental phosphorus and glyphosate-based herbicides, the White House said.
Global Markets: USDA sees more soybean acres, less corn
Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally.
Top potash producer Nutrien misses fourth-quarter profit estimates
Nutrien missed analysts’ expectations for fourth-quarter profit on Wednesday, as lower sales in its crop nutrients business weighed on the world’s top potash producer.
Cash incentive for CRSB Certified beef producers launched
The Canadian Roundtable for Sustainable Beef (CRSB) has launched an incentive payment for CRSB Certified producers.
ICE canola weekly outlook: Rallying soyoil supportive
ICE Futures canola contracts were underpinned by a rally in Chicago soyoil during the week ended Feb. 18, but the Canadian oilseed ran into upside chart resistance that tempered gains.
U.S. grains: Soybeans steady, grains higher
SOYBEAN futures at the Chicago Board of Trade were narrowly mixed at the Wednesday’s close, holding near three-month highs. WHEAT futures corrected higher amid ideas recent losses were overdone. CORN futures were up in sympathy with wheat, with positioning ahead of the U.S. Department of Agriculture’s Ag Outlook Forum a feature.
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