MarketsFarm — The decision by the U.S. to halt the import of Russian petroleum products due to the country’s invasion of Ukraine created sticker shock at the pumps in North America — but an end to that invasion would not necessarily mean an end to high fuel prices. On March 15, the average price of […] Read more
Fuel prices may remain high beyond Russian invasion, expert says
Bread and war: Farmers in the fight for Ukraine
Agriculture, being the most important industry in Ukraine, will play a large part in the war, a Ukrainian ag journalist writes
It is very difficult to explain what a person feels when they’re awakened at 5 a.m., when a rocket explodes near their house. That’s exactly what I experienced Feb. 24. The first thing I did was fill my car with gasoline. Then we bought a lot of products we thought we might need — medicines […] Read more
Ag equipment firm Buhler Industries shakes up board table
Rostselmash's Babkin steps down, founder Buhler to retire
Board oversight of Winnipeg farm equipment manufacturer Buhler Industries will now include another of the company’s upper managers, as a co-owner of the company’s Russian parent firm and the company’s founder both step down. Buhler’s board announced Wednesday it has accepted the resignation of Konstantin Babkin, the president and co-owner of Russian holding company Novoe […] Read more
Engine maker Cummins says expects ‘some impact’ in Russia
Deere says will abide by sanctions
Reuters — Diesel engine maker Cummins Inc. expects “some impact” to its business in Russia and is analyzing and preparing for current and anticipated sanctions, the U.S. truck engine maker said in an e-mailed statement on Monday. Many firms have idled operations in Russia after it invaded Ukraine last week, resulting in powerful Western sanctions. […] Read more
Equipment maker Buhler distances self from Ukraine invasion
A Winnipeg farm equipment manufacturer is distancing itself from Russia’s invasion of Ukraine. Buhler Industries, which manufactures the Versatile tractor line and Farm King equipment, is majority-owned by the Russian firm Combine Factory Rostselmash. That firm purchased an 80 per cent stake in Buhler in 2007 and boosted that to 97 per cent ownership in […] Read more
CNH sees revenues rising to 2024 on precision agriculture plans
Margin at agricultural unit seen at 14.5 to 15.5 per cent
Milan | Reuters — Italian-American vehicle maker CNH Industrial on Tuesday gave guidance for a total revenue growth of up to 24 per cent through 2024 as it presented a new business plan after spinning off its truck, bus and engine units. In a bid to focus on its higher-margin agriculture and construction machine businesses, […] Read more
Vaccine mandate to lead to inflation, empty shelves, trucking executives say
Parallel mandate for U.S. entry starts Saturday
Ottawa | Reuters — Canadian consumers should soon see higher prices and some empty shelves in supermarkets and other retail outlets because of disruptions stemming from a COVID-19 vaccine mandate for cross-border truckers, top trucking executives warned this week. The mandate, imposed by Ottawa to help curb the spread of the virus, has cost six […] Read more
After a year like this, boring never looked so good
We’ve been whipsawed by one event after another, so a return to normal would be a gift
Reading Time: 4 minutes Sometimes you can judge a year by how long it seems to have lasted. This one seems to have gone on forever. It feels like an eon ago when COVID-19 vaccines arrived (the first dose, outside of a clinical trial, was actually administered on Dec. 8, 2020 to a British grandmother named Margaret Keenan). Back […] Read more
CNH shareholders approve spin-off of truck maker Iveco
Milan | Reuters — Shareholders at CNH Industrial on Thursday approved the spin-off of its truck-making business Iveco Group, the company said, completing a plan launched more than two years ago to reorganize its businesses. Upon completion of the plan, CNH Industrial shareholders will receive one Iveco Group common share for every five common shares […] Read more
Versatile tractor maker’s majority owner boosts stake
Russia's Rostselmash raises ownership to almost 97 per cent
The Russian farm equipment manufacturer which held just over 80 per cent of Canadian tractor and equipment maker Buhler Industries has now taken up near complete ownership. Winnipeg-based, publicly-traded Buhler Industries announced Wednesday that Combine Factory Rostselmash has bought another 16.3 per cent of Buhler shares for $3 per share, or about $12.25 million. Buhler, […] Read more
Cyber-Savvy Farmer
