AP NEWS

Ag sector bounces on news of US tariff aid for farmers

July 24, 2018

FILE - In this March 23, 2015, file photo, John Deere lawn tractors are on display at a Home Depot in Robinson Township, Pa. Wall Street is flooding into the agricultural sector on reports that the Trump administration 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, while Deere & Co. shot up more than 4 percent after news of the aid package was leaked to The Associated Press by two people briefed on the plan. (AP Photo/Gene J. Puskar, File)

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.

AP RADIO
Update hourly