Federal Reserve Bank of Kansas City President Thomas Hoenig said that an increase in interest rates could trigger a 33 percent decline in the price of agricultural land.
Endocyte Inc., with no marketed products, plunged the most in more than two years after the drug it’s developing with Merck & Co.’s backing failed to help patients in a trial for ovarian cancer.
Endocyte Inc., a biotechnology company with no marketed products, almost doubled in value after its experimental medicine slowed the progression of lung cancer in a study.
Endocyte Inc. shares more than doubled after entering an agreement to develop its ovarian cancer treatment with Merck & Co.
The five-year boom in U.S. farmland values probably will end this year amid a decline in profits and crop prices that may disrupt the rural economy.
Ethanol dropped as corn touched a three-year low, reducing costs for distillers.