The Senate defeated five budget proposals offered by Republicans today, as the GOP sought to hammer Democrats for not producing a budget resolution this year and for not putting one on the Senate floor in the previous two years.

“Where in the world is it?” asked Senate Minority Leader Mitch McConnell (R-Ky.) on the floor, adding that Democrats have shirked one of their primary legislative responsibilities — a move he said demonstrates their inability to govern. Read More...

Deere & Co (DE.N) posted higher quarterly earnings and sales that topped estimates and raised its full-year profit outlook on Wednesday on rising global demand for farm equipment.

The U.S. farm sector is booming on higher worldwide food demand and as biofuels help drive up crop production. Companies like Deere are benefiting from record-high farm income that is spurring farmers to update their equipment. Read More...

The Senate has approved legislation that would reauthorize the Export-Import Bank after rejecting five Republicans amendments, including a proposal to shut down the bank.

The bill was approved 78-20 — with all 20 “no” votes cast by Republicans — and now goes to President Barack Obama for his signature. The House passed the measure last week 330-93. Read More...

A Congressional Budget Office report released by Senate Energy Chairman Jeff Bingaman (D-NM) asserts that having less flexibility in the choice of fuels contributes to the volatility of prices for transportation fuels. "A substantial amount of oil is produced in countries that are vulnerable to disruptions resulting from geopolitical, military, or civil developments, and few countries other than Saudi Arabia have much spare production capacity in the near term to offset such disruptions," the CBO report states. "In contrast, the U.S. markets for natural gas, coal, nuclear power, and renewable energy either are less prone to long-term disruptions or have significant spare production and storage capacity." Read More...

The American Farm Bureau Federation on May 8, along with 14 state Farm Bureau organizations and 16 other agricultural organizations, filed a motion seeking to intervene in a lawsuit seeking to force the Environmental Protection Agency to establish federal numeric nutrient water quality standards for all states in the Mississippi River Basin. Read More...

Officials with Federated Rural Electric, of Jackson, Minn., and USDA Rural Development presented AGCO with a $740,000 no-interest loan for up to 10 years. Read More...

Following approval of the 2012 Farm Bill by the Senate Agriculture Committee, a number of agriculture, conservation, nutrition, and rural development organizations have been pressing Senate leadership to schedule floor time for the legislation. The Senate Agriculture also released a summary of the committee-passed Agriculture Reform, Food and Jobs Act of 2012.  Read More...

Billionaire investor Carl Icahn has sold his $250 million debt holdings in Philip Falcone's telecom start-up LightSquared MOSAV.UL, while Falcone continues to negotiate with creditors to avoid a debt default, according to sources familiar with the matter.  Read More...

Warren Buffett, Berkshire Hathaway Inc. chief executive officer, said the $204 billion company he built will continue to grow and that his $34 billion purchase of Burlington Northern Santa Fe completed in 2010 “will not be the limit.” Read More...

New Holland's vice president for North America, Abe Hughes, II, is fired up about rejuvenating the company's proud name. Read More...