Key Takeaways:
- Agriculture stocks, including John Deere, Corteva, and FMC, posted weekly losses between 6% and 14%.
- Major U.S. indices fell significantly after new tariffs were announced, with the Nasdaq entering bear market territory.
- CNH Industrial fell over 11% despite announcing new acquisitions and partnerships.
- The Trump administration has not signaled any delay in tariff implementation set for April 9.
- Commerce Secretary Howard Lutnick confirmed that reciprocal tariffs will proceed as planned.
Market Overview of Agriculture Stocks
The agriculture sector experienced significant stock price declines during the week of March 31 to April 4, as markets responded to former President Donald Trump’s announcement of elevated tariffs on key trading partners. Delivered during his Liberation Day speech, the new tariffs sparked volatility across equity markets and raised concerns over potential supply chain disruptions.
U.S. stock futures fell sharply on Sunday evening ahead of the trading week. The Dow Jones Industrial Average dropped 2.5%, S&P 500 futures lost 2.9%, and Nasdaq-100 futures fell 3.9%. By the end of the week, the Nasdaq Composite had entered bear market territory—down over 22% from its highs—while the S&P 500 declined 6%, its worst weekly performance since the onset of the COVID-19 pandemic in March 2020.
Commerce Secretary Howard Lutnick confirmed that the reciprocal tariffs, scheduled to take effect on April 9, would not be delayed.
Agriculture Stocks: Weekly Performance Overview (March 31- April 4, 2024)
John Deere (DE: NYSE)
📈 Stock Performance
- Opening Price: $460.76
- Closing Price: $429.86
- Weekly Change: –6.71%
Corteva (CTVA: NYSE)
📉 Stock Performance
- Opening Price: $61.06
- Closing Price: $55.79
- Weekly Change: -8.63%
FMC Corp (FMC: NYSE)
📈 Stock Performance
- Opening Price: $41.24
- Closing Price: $35.44
- Weekly Change: -14.06%
🔎 Notable Updates:
UPL (UPL: NSE/BSE)
📈 Stock Performance
- Opening Price: ₹639.80
- Closing Price: ₹610.50
- Weekly Change: -4.58%
Nutrien Corp (NTR: NYSE/TSX)
📈 Stock Performance
- Opening Price: CAD 70.50
- Closing Price: CAD 67.42
- Weekly Change: -4.37%
CNH Industrial (CNHI: NYSE)
📈 Stock Performance
- Opening Price: $12.06
- Closing Price: $10.72
- Weekly Change: -11.15%
🔎 Notable Updates:
- Partnered with xFarm Technologies for a precision ag project in Kazakhstan &acquired the assets of Advanced Farm
