By Reuters
Deere CEO Samuel Allen. (AP/Deere)
Federal Reserve officials are correct to worry more about stimulating the U.S. economy than about inflationary price pressures bubbling in the fuel and food sectors, the chairman and chief executive of Deere & Co. said Tuesday.
In an interview, Samuel R. Allen said he worries about the strength of the U.S. recovery even though the farm equipment giant he leads is reaping the benefits of a global farming boom he expects to continue for years. Get the full story »
By Associated Press
An urban farm in Detroit. (Heather Stone/Tribune)
Kraft Foods Inc.’s Triscuit crackers brand and a nonprofit organization that works to establish working farms on unused land are bringing their “home farming” concept to some low-income homes in Los Angeles and Chicago.
The plans for five community gardens — three in Chicago and two in L.A. — are to be announced Tuesday at a news event in New York hosted by the cracker brand and Urban Farming, a Detroit-based nonprofit. Get the full story »
March 29 at 10:30 a.m.
Filed under:
Agriculture/Farming,
Litigation
From Bloomberg News | Peoria-based manufacturing giant Caterpillar Inc. paid more than $9 million to settle a paralyzed worker’s lawsuit over a tractor accident that generated one of last year’s largest produc-liability verdicts, according to people familiar with the accord.
March 28 at 4:01 p.m.
Filed under:
Agriculture/Farming
By Dow Jones Newswires
U.S. grain storage capacity continues to trend higher as farm production grows, with Archer Daniels Midland Co. becoming the latest company to announce expansion plans. Get the full story »
March 25 at 11:34 a.m.
Filed under:
Agriculture/Farming,
Stock activity
By Associated Press
Archer Daniels Midland Co.’s stock slipped Friday as an analyst downgraded the agribusiness conglomerate, saying the current operating environment may miss near- and intermediate-term expectations. Get the full story »
March 23 at 2:21 p.m.
Filed under:
Agriculture/Farming,
Food
By Associated Press
A nearly 50 percent increase in vegetable prices should ease in coming weeks as farmers deliver more tomatoes, lettuce and other crops to grocers. Get the full story »
March 23 at 9:39 a.m.
Filed under:
Agriculture/Farming,
Manufacturing
By Associated Press
Heavy-equipment maker Caterpillar Inc. says it is considering selling off part of its logistics subsidiary, so it can focus on its core business. Get the full story »
March 17 at 3:02 p.m.
Filed under:
Agriculture/Farming
By Reuters
High prices for agricultural commodities will attract investment into the sector that could boost production and help increase global food supplies, according to David Lehman, managing director for research at exchange operator CME Group Inc. Get the full story »
March 16 at 5:11 p.m.
Filed under:
Agriculture/Farming,
Investigations
From BusinessWeek | Moline-based Deere & Co., the world’s largest maker of agricultural equipment, was accused in an amended lawsuit of systematically discriminating against women seeking entry-level positions.
March 16 at 4:51 p.m.
Filed under:
Agriculture/Farming
By Reuters
Burcon Nutrascience Corp. expects that its new partnership with Archer Daniels Midland Co. could eventually result in their marriage.
Burcon earlier this month signed a licensing deal with Archer Daniels for the production, distribution and sale of its Clarisoy soy protein, which can go into juices, soft drinks and sports drinks.
Although the deal does not give ADM a right or option to buy Burcon, Johann Tergesen, Burcon’s chief operating officer, said he assumes ADM would want to take it over down the road. Get the full story »
March 14 at 10:33 a.m.
Filed under:
Agriculture/Farming,
Food
By Reuters
Sara Lee Corp. will raise overall prices in the high single-digit percentages this fiscal year, with increases on everything from Jimmy Dean sausage to frozen pies, an executive said at the Reuters Global Food and Agriculture Summit Monday. Get the full story »
March 10 at 7:34 a.m.
Filed under:
Agriculture/Farming
By Associated Press
Food prices still are skyrocketing, yet the rally for one key component — fertilizer — might be petering out. Farmers’ fields are saturated, making it difficult for fertilizer producers to hike prices, one analyst wrote Wednesday. Meanwhile, share prices in fertilizer companies have doubled since July.
Citigroup downgraded top producers Potash Corp. and The Mosaic Co. to “hold” from “buy,” Wednesday, and reduced his price targets for their shares. Get the full story »
By Associated Press
A John Deere combine being worked on in Hampshire, Ill. Moline-based Deere hopes to expand its product line in Russia. (Photo by Scott Olson/Getty Images)
Moline, Ill.-based Deere & Co. will double the manufacturing space at a factory near Moscow and start its own leasing company in Russia, the world’s largest maker of agricultural equipment said Thursday.
The announcement was made as Deere Chairman and CEO Samuel Allen joined other CEOs and Vice President Joe Biden at an investment conference in Russia.
The investment at the Domodedovo factory will help the company expand its product line in Russia, adding new equipment such as log forwarders, which load and haul logs and are widely used in the Russian forestry industry, Deere said in a statement. Get the full story »
March 2 at 4:33 p.m.
Filed under:
Agriculture/Farming,
Stock activity
By Reuters
CF Industries Holdings eliminated a key rival when it bought Terra Industries last year, but so far surging corn prices rather than the deal’s benefits have driven the fertilizer producer’s stock. Get the full story »
From Bloomberg News | Billionaire Warren Buffett said in his annual letter that wants to use his almost $40 billion pile of cash to pursue bigger acquisitions. That may put companies from Archer Daniels Midland Co. to General Dynamics Corp. and Exelon Corp. in his sights. Get the full story>>
