Ag Headlines, Friday, October 16, 2015

Syngenta: Currency Troubles Will Erode 2015 Earnings

Syngenta warns a slowdown in Latin American and the stronger dollar will erode 2015 earnings after third quarter sales dropped.  Bloomberg reports revenue fell 12 percent in the third quarter to $2.6 billion for the company that balked at a takeover approach from Monsanto earlier this year.  Sales were hurt by low commodity prices in Brazil and tight credit in Argentina, according to the company.  The world's largest maker of agrochemicals now joins the ranks of Monsanto, FMC Corp and DuPont Co. in prediction a slump in agricultural markets and waning demand for crop chemicals from farmers will hit earnings this year, according to Bloomberg.  Syngenta's Chief Executive Officer Mike Mack said in a statement that the company is unlikely to meet original expectations for 2015.

USDA to Invest $30 Million to Help Protect Wetlands in Six States

USDA Announced Thursday the agency will award $30 million to projects in six states to protect, restore and enhance wetlands on private and tribal agricultural lands.  The projects are being funded under the Wetland Reserve Enhancement Partnership, a program authorized by the 2014 Farm Bill.  Agriculture Secretary Tom Vilsack said "These projects will improve water quality, prevent flooding, enhance wildlife hyabitat and meet increasing conservation challenges on over 19,000 acres of wetlands."  NRCS awarded grants for projects in Iowa, Kentucky, Missouri, Mississippi, Nebraska and Tennessee.

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