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U.S. ranchers are moving to expand their herds from a seven-decade low, paving the way for a long-awaited recovery in beef supplies, according to top producer JBS.

The Brazilian company is expected to price a three-part offering of debt due in 10, 30 and 40 years on June 23, according to a person with direct knowledge of the matter.

The Trump administration is proposing oil refiners blend more biofuels into gasoline and diesel next year while seeking to discourage the use of imported supplies.

Brazilian meat giant JBS expects its shares to begin trading June 13 on the New York Stock Exchange.

After losing their biggest export market, U.S. farmers are now counting on the president’s support for biofuels to prevent their next crop from piling up in storage.

The Brazilian company’s reorganization plan that has been years in the making received the votes it needed from minority shareholders at a meeting in Sao Paulo, JBS said in a filing.

Shareholders in Brazil’s JBS, which has beef, chicken and pork operations stretching from Colorado to New Zealand, will meet on May 23 to vote on the plan to sell shares in New York.

Deere & Co. jumped to a record after earnings beat the highest of analyst estimates, even as the world’s largest farm machinery maker trimmed its profit outlook for the year.

Lack of clarity on how the Trump administration will address much-needed incentives for crop-based fuels in the next few years has added to concerns.

Archer-Daniels-Midland’s earnings shrunk to the lowest level since the pandemic as a difficult crop trading market is complicated by mounting trade and biofuel policy uncertainty.