Dealers for Deere & Co., the biggest farm-machinery maker, are opening new African sites to sell equipment such as the 5503 tractor, its most popular in the region. The $24,000 price is less than a 10th of some of its machines selling in the U.S.
Deere & Co., the largest agricultural equipment maker, raised its full-year profit forecast and posted quarterly earnings that topped analysts’ estimates after record prices for corn and soybeans boosted farmers’ incomes.
Cargill Inc., the largest U.S. beef processor, will idle a Texas processing plant after the size of the cattle herd fell to a 60-year low and years of drought increased feed costs. Cattle futures dropped.
Deere & Co., the world’s largest agricultural equipment maker, posted earnings that missed analysts’ estimates for a second consecutive quarter after sales declined 2 percent outside the U.S. and Canada.