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Grain, Soybean Futures Slide; Oilseed Crush Falls in April
CHICAGO--Grain and soybean futures fell on Thursday as weather forecasts improved, while a government report showed a lower oilseed crush rate in April.
U.S. processors crushed 150 million bushels of soybeans for oil in April, the U.S. Department of Agriculture said after the markets closed. That's down from 160 million bushels in March.
Soybean futures for July delivery slid 0.4% to a fresh low of $9.12 1/4 a bushel at the Chicago Board of Trade on Thursday, the lowest close since April 7 2016.
Donald Trump Says U.S. Will Exit Paris Climate Deal--5th Update
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President Donald Trump said Thursday he has decided to withdraw the U.S. from the "draconian" Paris climate accord, but he said he would begin negotiations to either re-enter the agreement or craft a new deal that he judges fair to the U.S. and its workers.
"I was elected to represent Pittsburgh, not Paris," Mr. Trump said, calling the decision a "reassertion of our sovereignty."
Corporate leaders from sectors ranging from oil and gas to retail, agriculture, finance and technology lobbied the president not to scrap the agreement. Inside the administration, Secretary of State Rex Tillerson pressed the president to keep the U.S. in the Paris accord, as did Defense Secretary Jim Mattis and leaders at the Pentagon, who have long viewed combating climate change as a matter of national security.
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Deere to Buy German Road Construction Equipment Maker--2nd Update
Deere & Co. bought a construction-equipment maker for the first time in years, as the agricultural-machinery giant pursues sales beyond the struggling U.S. farm economy.
Deere, the world's largest manufacturer of tractors and harvesting combines, said it would acquire Germany's privately held Wirtgen Group for EUR4.36 billion ($4.89 billion). Demand for Wirtgen's road pavers in markets like China and Brazil is growing faster than in the U.S. construction and agricultural markets, where Deere's sales are concentrated.
Explosion at Wisconsin Grain Mill Leaves One Dead, Two Missing -- Update
Authorities were searching Thursday for two missing workers and clues to the cause of an explosion Wednesday night at a central Wisconsin corn mill that left one dead and several seriously injured.
Cattle Futures Hit Upper Limit on Higher Cash Prices
CHICAGO -- Cattle futures soared to their upper limit on Thursday as traders looked to close the discount to cash-market prices.
The U.S. Department of Agriculture said that beef packers bought live cattle in southern states for as much as $1.37 a pound, as well as $1.36 live and $2.16 dressed in Nebraska and Iowa.
(END) Dow Jones Newswires
June 01, 2017 17:41 ET (21:41 GMT)