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Ag Day Minute: Lawsuit on wildfire, yuan sinks again

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Ag Day Minute: Lawsuit on wildfire, yuan sinks again

Investors continue to watch China after it once again lowered the trade range for its currency.

Some are seeing the move as Beijing using its currency as a trade weapon against the U.S. China's central bank further weakened the yuan by setting it at its weakest level since 2008. Beijing alarmed investors Monday by allowing the yuan to fall to an 11-year low against the dollar. That's when the U.S. Treasury Department labeled China a currency manipulator. The central bank has assured companies it will not permit sharp declines to continue and the exchange rate will be kept stable.

A lawsuit filed in Oregon's Wasco County Circuit Court claims an August 2017 wildfire was caused by a rancher and a John Deere combine. The fire burned 68,000 acres over two weeks. The suit was filed by the "Confederated Tribes of Warm Springs". The group claims the combine started emitting sparks but the operator continued driving it. Those sparks eventually set a field on fire.

Monday is a big report day in farm country. That's when we're finally expected to learn just how many corn and soybean acres were really planted this year. and AgDay...got this exclusive behind-the-scenes look at where the numbers are crunched. Employees with USDA's National Agricultural Statistics Service...going into "lock up" until those numbers are released.

For more ag news, watch AgDay, weekdays on this station or anytime at agweb.com.

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