Ag sector bounces on news of US tariff aid for farmers
Jul. 24, 2018
NEW YORK (AP) — Wall Street has given the agricultural sector a boost after Trump administration said it is preparing a plan that would send billions in aid to U.S. farmers hurt by tariffs.
CF Industries Holding and Mosaic Company both traded up more than 3 percent earlier in the day but ended Tuesday with more modest gains. CF Industries finished up less than 1 percent, while Mosaic added 2.3 percent.
Deere & Co. ended with a 3.2 percent gain. Shares in Archer-Daniels-Midland and FMC Corp. also rose.
The plan would attempt to give relief to farmers who have faced retaliation from U.S. trade partners with duties on products like soybeans and pork.
President Donald Trump was in Kansas City Tuesday, the heart of the nation's farm country.