Deere Releases Q2 Numbers

As of April 30, sales of equipment in Deere’s agriculture and turf division were down by 5 percent for the first half of the fiscal year. Comparing quarters, sales were roughly the same. A news release from Deere says that the six-month decline is largely the result of lower shipment volumes.

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Kubota to Acquire Member Company Great Plains

Kubota Corporation announced Friday that it has entered into an agreement to purchase Great Plains Manufacturing, Inc.

Roy Applequist, who founded Great Plains in 1976 and remains chairman today, will continue on the leadership team to assure a seamless transition.

“My plan is to play a significant role in helping Great Plains become a vital part of the Kubota family,” Applequist said. “Great Plains’ leadership position in the agricultural implement business has been earned by striving to do our best in satisfying our customers’ needs, and we are confident that teaming up with Kubota will allow us to continue to uphold this tradition.”

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President Signs Trade Secrets Law

President Obama last week signed the Defend Trade Secrets Act, which allows companies to file suit in federal court over allegations of trade secrets theft.

Trade secret theft was already a federal crime, but without the right to sue in federal court, companies had to seek redress amid a patchwork of state laws.

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Purdue, CME Group Introduce Tool to Assess Ag Sentiment

Agribusiness executives have another tool to measure the health of the U.S. agriculture economy—this one seeking input from growers.

Purdue University’s Center for Commercial Agriculture, in partnership with the derivatives marketplace CME Group, have launched the Purdue/CME Group Ag Economy Barometer, a monthly economic indicator report that underscores the importance of the ag economy to the U.S. and global economies.

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Spring Conference: Association Staff Eager to Hear From You

We communicate today through channels that are one step removed from personal interaction. I wonder if as we rely more on text and email, we compromise our skills to listen.

Along the same lines, with so much information available to us from digital sources, are we prone to wrongly assume that everyone is operating with the same information we are? And does that ultimately diminish the quality of our face-to-face conversations?

The Association staff and I are determined to renew our focus on listening, and we start with this newsletter.

First, I want you to know what we’ve heard recently, beginning with the Spring Conference. In visiting with a wide section of members, we learned that to reach most of you, we need to cast a wide geographic net from the upper Midwest to cities like San Antonio, Charlotte and even an occasional beach location like this year’s event in Clearwater, Fla.

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Dockworkers, Shippers Consider Extending Contract

Dockworkers and shipping companies at U.S. West Coast ports are officially considering extending the five-year contract they agreed to last year, according to Commerce Secretary Penny Pritzker, who met with the two groups in Los Angeles.

The parties have not agreed to an extension but rather agreed to consider it. Still, the news brings relief to manufacturers and retailers.

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Educational Achievements at S3

S3 Enterprises in Swift Current, Saskatchewan is celebrating the accomplishments of several employees who’ve recently completed professional training.

Through the Canada-Saskatchewan Job Grant program and S3’s Employee Education Allowance, employees have pursued professional training at no personal cost.

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AGCO Releases Q1 Financials

AGCO announced last week its net sales for the first quarter of 2016 were $1.6 billion, a decrease of approximately 8.4 percent compared to the same quarter last year.

Sales in North America were down by 11.6 percent. Sales in South America fell by 21.2 percent. AGCO reported a 19.4 percent gain in Asia/Pacific, and a 4.2 percent gain in Europe, Africa and the Middle East.

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Spending Surges On Digital Ads

Digital advertising revenue surged in the U.S. to a record-breaking $59.6 billion in 2015, a 20 percent increase over last year’s record-breaking numbers, the Interactive Advertising Bureau said in a report prepared by PriceWaterhouseCoopers.

Advertising on mobile devices drove the surge, growing by 66 percent to $20.7 billion in revenue. Social media ad revenue grew by 55 percent to $10.9 billion.

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DOL Reportedly Lowers Proposed Overtime Threshold

The U.S. Department of Labor is expected to lower the salary threshold in its forthcoming final rule related to overtime pay. The new threshold, $47,000, would double the current threshold.

The overtime salary threshold is the level at which virtually all salaried employees who earn that amount or less qualify for time-and-a-half pay if they work more than 40 hours in a week.

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3-D Printing: Opportunity Takes Shape in Manufacturing

Start-up company Carbon3D Inc.is developing a 3-D printing method that manufacturers, including Ford Motor Co., say shows greater promise than existing methods. It’s expensive, so it’s early uses may be in customized products like parts for airplanes.

But, a startup backed by Alphabet Inc.’s Google Ventures is developing a different 3-D printing method that some manufacturers, say shows more promise. Carbon3D Inc.’s printers project light continuously through a pool of resin, gradually solidifying it onto an

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Farm Data Vulnerable Too

The FBI and USDA say criminals may steal farm-level data in bulk to track, even anticipate, crop availability and pricing. The data may also be vulnerable to ransomware or “hacktivists,” individuals who destroy data to protest, for example, the use of GMOs.

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Ag Downturn Hits State Government

Lawmakers in South Dakota are experiencing the ripple effect of low commodity prices. As farm equipment sales dip, the state collects fewer sales tax dollars.

Sales tax collections on farm equipment peaked in South Dakota’s 2014 budget year at an estimated $43.9 million. Collections fell to $33.6 million in 2015.

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Federal Income Taxes: A Nod to the 1 Percent

An estimated 45.3 percent of American households—roughly 77.5 million households—pay no federal individual income tax, according to data for the 2015 tax year and the Tax Policy Center, a nonpartisan Washington-based research group.

Taking a broader look, the wealthiest 20 percent of Americans pay the most in income taxes, paying nearly 87 percent of all the income tax collected by Uncle Sam. in 2014, the top 20 percent earned an average of $134,300 a year.

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Council Spotlight: Rotary Cutter

Association members have asked to learn more about the work of committees and councils. This submission from Jeff Welsch, chairman of the Rotary Cutter Council, is part of that information-sharing process.

Council AdThe Association’s Rotary Cutter Council includes manufacturers of rotary cutters and suppliers of rotary cutter components. The council meets every year at the National Farm Machinery Show in Louisville and the Association’s Fall Convention.

The primary focus of the council is to

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Vermont: Not an Example to Follow

As of this writing, the only thing standing between the Vermont legislature’s effort to interject its will on what language should be required in a private business agreement between manufacturers, distributors and independent dealers, is the lack of agreement between the House and the Senate on which version of bad legislation to send the governor.

The Vermont Legislature should rethink its further intrusion into private business and not rush a decision with so few days left in the 2016 session. Any proposal needs the proper time to be considered, and lawmakers should table this issue. (Click for More)

The status quo, while not ideal, will serve Vermont until voters of this state have their say in November.

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Professional Opportunities in the Industry

Account Manager (Job #116) Company seeks an individual to sell and market forged, formed and machined steel components.

Marketing Manager – Ag Equipment (Tractor/Implement) (Job #115)
Looking for someone to promote and support all aspects of his or her assigned product lines, develop marketing strategies, train and support dealers, and gather, maintain, and communicate information about competitive products.

Test Engineer (Job #114) Executes field test plans, reports test outcomes, supports field test technicians, and follows up on field-related issues.

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Purdue, CME to Take Monthly ‘barometer’ of Confidence

Purdue University’s Center for Commercial Agriculture and the derivatives marketplace CME Group are partnering to produce the Purdue/CME Group Ag Economy Barometer, a monthly nationwide measure of the health of the U.S. agricultural economy.

April survey results
The agricultural sentiment of U.S. producers increased to 106 in April 2016, which was an improvement in producer sentiment compared to the base period of October 2015 through March 2016.

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