Earning reports topped headlines on Wall Street this week, and agriculture businesses seem to be doing well.
Syngenta reported first-quarter sales of $7.1 billion, up 20% for the same period last year. BASF reported first-quarter sales were up 16% to 19.4 billion euros, or $23.52 billion. AGCO reported sales for the first quarter were approximately $2.4 billion, an increase of 23.4%. Meanwhile, ADM reported first-quarter earnings of $689 million. The company says its Ag Services and Oilseeds sector achieved a record first quarter, with operating profits 84% higher year over year. Tractor Supply Company reported net sales for the first quarter of 2021 increased 42.5% to $2.79 billion from $1.96 billion in the first quarter of 2020.
Finally, CME Group reports revenue of $1.3 billion for the first quarter of 2021. CME Group Chairman and Chief Executive Officer Terry Duffy says, “Trading volumes in Q1 have returned to pre-pandemic levels.”
(From the National Association of Farm Broadcasters)