Worry Over Production Costs Mounts for Farmers
The Farm Capital Investment Index declined, which seems to be a function of supply chain problems as well as concerns about rising input costs.
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Ag
Agritechnica Calls Off February Show
A fourth wave of COVID in Germany prompted the decision. The show was expecting 2,000 exhibitors.
Read moreDealer News
See the latest in acquisitions and plans to build.
Read moreWith Financing Secure, Monarch Plans Expansion
In related news, CNH Industrial has entered into an exclusive, multi-year licensing agreement for electrification technologies with Monarch Tractor.
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Titan’s Ag Segment Sets Quarterly Margin Record
“The combination of our larger base of revenues, healthy inventory position and lean infrastructure has allowed for powerful operating leverage that drove a 109 percent increase in pre-tax income for the quarter,” CEO David Meyer said.
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Equipment Sales, Land Values Strong in Rural Index
Readings for farm equipment sales and farmland prices over the last several months represent the strongest consistent growth since 2012.
Read moreFarm Data Company to Buy Sensor Tech Group
Fieldin, which helps farmers accelerate data collection, will acquire Midnight Robotics, which retrofits tractors with sensing technologies.
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The Rural Mainstreet Economy, November 2021
Approximately 30% of bank CEOs surveyed expect the recently passed infrastructure bill to have more negatives than positives for agriculture.
Read moreTitan Acquires Jaycox
Titan Machinery Chairman and CEO David Meyer said the acquisition “is a perfect complement to our existing footprint in the heart of this highly productive region.”
Read moreBrandt Buys Cervus, Creates Mega-Dealer
With the acquisition of the Cervus locations in Canada, Australia and New Zealand, Brandt now owns and operates 120 full-service equipment dealerships.
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Tractor/Combine Sales
Combine sales in the U.S. and Canada in October recorded 73 percent and 44 percent gains, respectively, compared to October 2020.
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Fear of Cost-Prize Squeeze Weakens Farmers’ Moods
Rising input costs are on most producers’ minds.
Read moreTractor/Combine Sales
Sales of combines in the U.S. and Canada posted 35 percent and 24 percent gains, respectively, compared to September 2020.
Read moreBiodiesel Gains Market Share, Drives Up Demand for Soy
As bidding gets more aggressive on soybean oil, crushers accelerate production. Before last week’s crop production report, soybean prices hit a 10-year high.
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Corn, Soybean Harvests Ahead of Schedule
The U.S. corn and soybean harvests have passed the halfway mark.
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Machinery Purchase Plans Affected by Low Inventories
Fewer farmers this month said they planned to increase their machinery purchases than on the August survey. More than half say their farm machinery purchase plans have been impacted by low inventories.
Read morePower Shortage in China Threatens Food Prices
Among the areas worst hit by the severe energy shortage are northeastern provinces where about half of China’s corn and soybeans are grown.
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EPA Document Suggests Big Hit to Ethanol Demand
U.S. Rep. Randy Feenstra (R-Iowa) denounced the proposal and said on Twitter he would “fight this tooth-and-nail.”
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Member Company Exec Shares Account of Ida’s Impact
The sugar cane crop took a hit from Hurricane Ida, as did the infrastructure that exports U.S. crops. Mark Naquin with member company M.J. Naquin describes the area after the storm.
Read moreTractor/Combine Sales
Combine sales in Canada posted a 29 percent gain in August. Sales of tractors in the 100-plus horsepower category in the U.S. increased by 38 percent.
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Strong to Stronger: Equipment Sales, Confidence in Economy
The farm equipment-sales index confirms the demand that manufacturers are experiencing.
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Bankers Report Record Farmland Price Index:
For the 10th straight month, the Creighton University Rural Mainstreet Index (RMI) remained above growth neutral, according to the monthly survey
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Farmer Sentiment Rises, Financial Outlook Remains Strong
Producers are becoming increasingly concerned about rising input costs. Thirty-nine percent of respondents said they expect input prices to rise by 8 percent or more.
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More Than One in Five Dealers Beat July Forecasts
Dealers report that inventories remain too low, pricing is up, and sales are beating forecasts. See the data from Ag Equipment Intelligence.
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Land Prices as High as an Elephant’s Eye
In Iowa, in one week, five counties broke records for price per acre on farmland. In at least one county, the record had only been standing for a week.
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COVID Payments to Farmers Not the ‘Boost’ Some Expected
Projections for farm income in 2021 are 20 higher than the 2020 projection and 49 percent higher than the average from 2015 to 2019.
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Brandt Tractor to Acquire Cervus Equipment Corp.
On the same day the agreement was announced, Cervus reported earnings for its best-ever second quarter.
Read moreDealer News
Expansions are underway for dealer operations headquartered in North Dakota and Florida.
Read moreAcquisition Announced in Digital Ag Marketplace
Farmers Edge Inc., a digital agriculture company, has agreed to acquire CommoditAg, an online marketplace for agriculture products.
Read moreTractor/Combine Sales
Sales of big equipment showed enormous gains in July.
Read moreSenate Amendment May Protect Farms and Ranches from Transfer Taxes
In the middle of the U.S. Senate’s flurry of amendments and votes this week on a $3.5 trillion budget reconciliation
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Farmers Expect Cooling Off Period in Machinery Buying
Nearly half of producers surveyed said they expect input costs to rise by at least 8 percent in the next year. Such costs have risen by 1.8 percent per year over the last decade.
Read moreGlyphosate Gone for Lawns, Remains for Farmers
The move is designed to mitigate future litigation risk.
Read moreTractor, Combine Sales
Sales of big tractors saw big growth in June.
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July Rural Mainstreet Index Shows Strength
The July farm equipment-sales index extended the longest run in growth territory that the index has recorded since 2012.
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Biden Takes Aim at Tractor, Combine Repairs
Regardless of the outcome, the president’s actions have turned the hot light of public opinion on the right-to-repair issue.
Read moreDealer News: Acquisitions, Expansion
See news about changes in the dealer landscape in Florida, Texas, and Iowa.
Read moreOpinion: Executive Order Creates Opportunities for Farmers and Ranchers
Limiting who can work on a piece of machinery drives up costs and increases down-time. Ensuring farmers have the ability to perform cost-effective repairs on their own equipment will keep America’s farms running and financially sustainable.”
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Farmers’ Reluctance to Build Weakens Investment Index
About a third of farmers expect farm input prices to rise by 8 percent or more in the upcoming year, which would be more than four times the average rise over the last 10 years.
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Commodity, Consumer Prices May Prompt Fed Rate Hike
The world hasn’t seen such across-the-board commodity-price increases since the beginning of the global financial crisis, and before that, the 1970s. Corn, soybeans and wheat have jumped to their highest levels in eight years.
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Tractor/Combine Sales
Sales of big machines saw big growth in May.
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White House to Launch Supply Chain Task Force
The task force will address the bottlenecks in the agriculture, construction, transportation and semiconductor sectors.
Read moreIt’s Back: Obama-Era Clean Water Rule Revisited
In response, AFBF President Zippy Duvall said that “clean water and clarity are paramount, and that is why farmers shouldn’t need a team of lawyers and consultants to farm.”
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U.S. Initiates Trade Dispute Against Canadian Dairy
The U.S. alleges that Canada is not upholding the terms of USMCA and using a system to set aside a s hare of the dairy market exclusively for Canadian processors.
Read moreAg Revenue Up Nearly 19 Percent at Titan Machinery
The agriculture segment generated pre-tax income growth of 82 percent during the three months that ended April 30.
Read moreDealers Plan Construction, Expansions
Dealers in Louisiana, Montana, Pennsylvania and Kentucky are expanding their footprints in the equipment industry.
Read moreJudge Rules Against Bayer
The company stands by the safety of glyphosate and is committed to keeping it available for farmers.
Read moreMainstreet Index Soars to Record High
About 61 percent of bank CEOs reported that their local economy expanded between April and May.
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U.S. Forecasts Highest Prices for Crops in Years
The USDA estimates the corn crop will sell for a season-average $5.70 a bushel, soybeans for $13.85, and wheat for $6.50. Those would be the highest farm gate prices since 2013 for corn and soybeans and the highest since 2014 for wheat.
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What’s Behind the Labor Crunch?
Is it enhanced unemployment benefits, border issues, wages? One agricultural economist asks if it is even correct to call it a labor “shortage.”
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