Deere Reductions Continue
The decision came immediately after a second round of buyouts for salaried employees concluded. The company cites its smart industrial redesign as driving the changes.
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AGCO’s Net Sales Flat in North America
Increased sales of hay equipment, precision planting equipment and high horsepower tractors were mostly offset by lower sprayer and grain and protein sales.
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Iowa Receives Disaster Declaration After Derecho
The state estimates that hundreds of millions of bushels of commercial grain storage and tens of millions of bushels of on-farm grain storage were lost in the storm.
Read moreRocky Mountain Sees Results with Focus on Used Machines
The dealerships reported a 9.9 percent increase in sales compared to the same quarter last year, largely due to higher sales of used equipment.
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Financial Outlook Troubling for Farmers
The Trump administration is expected to distribute a record $33 billion in payments to farmers this year. The funds would push government payments to 36 percent of farm income but still be too little to keep some farmers afloat.
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USDA Identifies Mystery Seeds, Suspects Selling Scam
While the handful of seeds identified do not pose a threat, the agency continues to advise recipients of the packets against planting them.
Read moreSales Fall at CNH But Beat Expectations
The company said the market was recovering more quickly than anticipated from the COVID-19 pandemic.
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Grain Storage Looks Complicated This Year
USDA estimates suggest that storage capacity will be the second tightest since 1988 and only slightly below the record set in 2016, when supplies filled 101.7 percent of the nation’s grain bins.
Read moreSunbelt Ag Expo Calls It Off
The expo plans to return for its 2021 show and encourages those who would have attended this year to participate through social media.
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Bill Would Reduce, Extend Unemployment Benefit
The plan would expand a worker-retention tax credit created in March, make $190 million available to small businesses through the Paycheck Protection Program, and send a second round of stimulus checks.
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China Buys Big on Corn, Soybeans
An economist says it is encouraging that despite ongoing political tensions, China has remained an active buyer of U.S. soybeans. With Brazilian supplies running out, China will have to keep coming to the U.S.
Read moreAug 14 Deadline to Save on Marketing & Distribution Convention
This year, the Association has introduced no-risk registration by offering complete refunds until Oct. 26. The hotel requires 72-hour notice.
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Notice: Association Annual Business Meeting
The Association is reviewing bylaws related to the meeting as part of developing contingency plans if the Association or the hotel decide the convention cannot be held in a fashion that is safe and meets attendees expectations.
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Association Welcomes Membership Director
As part of its pursuit to find new ways to bring value to the shortline industry, the Association has hired Matt Rice to lead its membership operation.
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CNHi Named in Emissions Fraud Investigation
CNH Industrial confirmed that a number of its offices in Europe have been visited by investigators after a request by German magistrates and that it was cooperating fully with authorities.
Read moreFarm Progress Launches Virtual Show
“We’re going to have what may be the most extensive field demonstration program we’ve ever conducted with corn harvest, tillage, hay and cattle equipment,” says Matt Jungmann, events manager, Farm Progress.
Read moreBig Exhibitors Pull Out of Big Iron Farm Show
Organizers said the show has a waiting list of exhibitors and will be full in spite of the withdrawals.
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Lifestyle Changes Create Boon for Tractor Supply
Tractor Supply saw sales grow by 35 percent in the quarter ended June 27. Its net income jumped 54.5 percent.The company saw a 14 percent year-over-year increase in new customers last quarter.
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Nearly Four in 10 Acres is Part of 2,000-Plus-Acre Farm
In 1980, there were about 250,000 dairy farms in the country. Today, there are 30,000. That is among dramatic shifts in farm size over the past four decades.
Read moreDangerous Delivery: Seed Packets from China
People in at least seven states have reported receiving packets of seeds in the past few days that are believed to be invasive species from China. If planted, the seeds pose a risk to crops and livestock.
Read moreCOVID-19 May Cost Ethanol Industry $10 Billion
“At one point in late April, more than half of the ethanol industry’s production capacity was shut down,” said RFA CEO Geoff Cooper. “The idling of dozens of ethanol plants reverberated throughout rural America and sent ripple impacts across the farm economy.”
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Rural Mainstreet Index Climbs for July
The July farm equipment-sales index increased to 34.4 from 32.8 in June.
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Hog Farmers Take Big Financial Hit in Pandemic
Hog farmers are seeking congressional action to keep the industry afloat amid the “largest economic hit” it has seen in 30 years.
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COVID-19 Disrupts Freight, Shifts Driver Demand
As the coronavirus pandemic took hold, it disrupted freight demand, forcing some carriers to furlough drivers while others were quick to hire those drivers as a way to swiftly onboard experienced commercial vehicle operators.
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Magazine Arrives Soon
Read the remarkable story of Bushel Plus in the next issue of the Association magazine. The young company found its way forward while its founder endured a nine-month recovery from a car accident an entire continent away.
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Meet the Speakers
The Association has put together a speaker lineup that we hope will give attendees a bit of a firmer grasp on navigating business post-COVID-19.
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Convention Registration Opens Wednesday
“It is time to try,” said Vernon Schmidt, the Association’s executive vice president. “This extended isolation is not good for individuals, and it is not good for this industry.”
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Members’ Benchmark Data Arrives This Week
Profit leaders who took the survey gained their edge by better controlling operating expenses. Cost control more significantly influenced the bottom line than gross profits.
Read moreAg Sales Decline at Art’s Way
Other factors that prevented greater gains in the bottom included implementing an OEM product line and rewarding employees for their service during the pandemic.
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Farmers More Inclined to Invest in Capital
Farmers’ perspective regarding whether or not now is a good time to make large investments in their farming operation improved markedly over the last two months.
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YRC Gets $700 Million Loan from Treasury
The agreement was possible because YRC is designated as critical to national security. Taxpayers will end up owning 30 percent of the company’s stock.
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Three Farm Belt States Get Quarter of Relief Money
Iowa, Nebraska and Wisconsin have collected one-fourth of USDA’s corona-virus relief payments. California has the largest average payment.
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Legal Challenge of Steel Tariffs Fails
The Supreme Court declined to take up a case challenging 25 percent tariffs on imported steel products. They will remain in effect.
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Lawyers Oppose Employer Protections for COVID
Granting employers legal immunity would make it less likely that they take the steps necessary to protect workers’ health, the trade groups said.
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Farmers Plant 5 Million Fewer Acres of Corn
Among factors contributing to the 37-year low: diminished demand for ethanol and timing: “We were planting into peak fear.”
Read moreIn Preventing Cyber Attacks, Think Supply Chain
Managing these vulnerabilities requires companies to collaborate with key supply-chain partners in ways such as jointly assessing risks in the supply chain and coordinating investments. Writers offered four fundamentals.
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Manufacturers Received $54 Billion in PPP Funds
More than 229,000 manufacturing companies received loans, which represented 10.36 percent of the total distributed as of June 30.
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Temperatures Rise – OSHA Discusses Worker Safety
New and temporary workers are most at risk to the hazards of excessive heat. OSHA offers suggestions on drafting a heat illness prevention plan.
Read moreLawmakers May Create Online PPP Forgiveness Tool
The act would require the SBA to
establish a free online calculator to provider borrowers “certainty and assistance” in pursuing loan forgiveness.
Program to Help Farmers, the Hungry Gets Rocky Start
As of July 1, about 63 percent of the targeted $1.2 billion in food boxes had been delivered.
Read moreTractor/Combine – June Sales
Highlights of June 2020 Flash Report from AEM.
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Sales Folks Are Traveling, Liability Questions Arise
Members who responded to an informal poll about getting their sales team back on the road seemed to focus on July as a potentially significant step toward normal.
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Names of Recipients of PPP Loans Will Be Released Thursday
Disclosures will include names of recipients who received loans worth >$150K, addresses, NAICS codes, ZIP codes, and more
Read moreFarm Progress, Husker Harvest Days Canceled
Until Monday, the Farm Progress Show was scheduled to be an in-person event in Boone, Iowa, in early September. A virtual event is in the works.
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Rural Mainstreet Index Climbs for June
The June farm equipment-sales index increased to 32.8 from 21.9 in May. The confidence index improved to 43.8 from May’s 22.1.
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Farm Journal Stages Virtual Competitor to Farm Progress
The show promises sponsors a 125 percent return on their investment by the end of 2020 and a 200 percent return by June 30 of next year.
Read moreLeaders of Empire Days Upset Over Cancellation
“Empire Farm Days is not a county fair,” a statement from the show said. “This is an outdoor ag community business event.”
Read moreFarm Shows 2020: What’s On, What’s Off, What’s Virtual
The situation is fluid, to say the least, but 11 farm shows plan to host in-person events from September through December.
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Deere Announces Employee Buyouts, New Leaders
Deere last week rolled out another voluntary severance program for U.S. salaried employees. Some positions are exempt, such as workers in precision ag, data and analytics, and IT departments.
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