Eyes of TPP Support Looks to Congress; Ag Industry Waiting for Deere’s Fourth-Quarter Report
If the Trans-Pacific Partnership is as good as the White House claims, a House Democrat says then Congress must pass the 12 nation trade deal. Representative Gerry Connolly of Virginia is one of 28 Democrats to support Obama’s bid earlier this summer for Trade Promotion Authority. TPA, or Fast Track, gives the House and Senate up-or-down votes on the massive agreement with no chance of amending or filibustering the pact. Connolly said the 28 Democrats who supported the fast-track authority “are pretty solid” in their support. He said the House is likely to pick up a few other Democrats in favor of the trade deal.
Deere & Company will soon provide an outlook as to what may be in store for the agriculture industry in 2016. The world’s largest seller of combines and tractors will report its fiscal fourth-quarter results today. With the report will come a sales outlook that will set the tone for the farm machinery industry in 2016. The report is expected to show a big step down in Deere’s projection that would signal a prolonged slump for the sector..