Falling crop prices are leaving American agriculture equipment sellers with an excess of unsold tractors and combines. To cope with the surplus, dealers are discounting machines, suspending new orders, and even auctioning off equipment at reduced prices.
Too many tractors: As boom times fade, farm equipment piles up
CNH Industrial cuts 2024 profit view as soft agriculture demand bites
CNH Industrial cut its annual profit forecast on Thursday, squeezed by slowing demand for its tractors and farm equipment as choppy crop prices and higher borrowing costs hinder farmers from making big-ticket farming purchases.
Weed seed destructors rare on Canadian farms
The devices are slowly gaining momentum in this country
Reading Time: 2 minutes Glacier FarmMedia – About 30 weed seed destructors were used last fall on farms across Canada, says an Agriculture Canada scientist. That isn’t a lot, as the country has some 50,000 grain farms that buy about 2,000 new combines every year. But adoption of the destructors, which pulverize weed seeds before they exit the combine, […] Read more
Farm equipment manufacturers focus on technology
Major implement companies face high-tech future as they wrestle with automation, autonomy and precision agriculture
Reading Time: 3 minutes Glacier FarmMedia – Images of autonomous machines working on their own in fields can easily grab the attention of early-adopter producers, especially those facing a labour crunch. They also make impressive headlines and brand announcements. Though several concept, prototype and even a few production machines have appeared on the scene, nearly all producers will still […] Read more
New Massey Sprayer comes to NFMS, combines and grain carts get synchronized
Product offerings that simplify how farmers work in the field often get more than a cursory glance on the farm show floor. This is the case for two machinery manufacturers at the National Farm Machinery Show (NFMS) in Louisville, Kentucky. Day two of the NFMS saw Massey Ferguson debut its 500R sprayer to attendees, and […] Read more
Deere cuts 2024 profit view as borrowing costs hurt demand
Executives expressed caution about margin performance amid weakening farm economy
Deere & Co cut its 2024 profit forecast on Thursday as farmers remained hesitant about big-ticket equipment purchases due to high borrowing rates and falling crop prices, even as its first-quarter sales and profit topped Wall Street estimates.
Combines launch into the spotlight at National Farm Machinery Show
With over 800 exhibitors occupying more than a million square feet of space at the Kentucky Exposition Center, it’s pretty much A-Z when it comes to the display of agricultural wares at this year’s National Farm Machinery Show. Two well-known machinery brands took this opportunity to pull back the curtain and showcase their latest offerings […] Read more
Big iron rakes in big dollars
Equipment sales boost largely driven by late deliveries, but that’s not the only factor
Reading Time: 3 minutes A big boost in four-wheel-drive tractor sales signals that the farm equipment industry is returning to normal, say salespeople and other industry experts. New 4WD unit sales in Canada grew 84.8 per cent year over year in November and 41.5 percent year to date, according to the Association of Equipment Managers. In October, it reported Canadian sales of tractors […] Read more
Tractors continue unusually strong sales in November
Many types of machinery have seen price hikes of around 30 per cent or more
The growing price of farm equipment is not dissuading farmers from buying new machinery, according to the latest data from the Association of Equipment Managers (AEM).
Ottawa, equipment industry clash over right to repair
Industry representative says federal action is no longer required
Reading Time: 3 minutes A recent federal call to formalize producers’ right to repair their own equipment ignores what manufacturers are already doing to boost farmers’ capacity to do so, according to a leader in the North American equipment arena. On Nov. 21, the federal government argued for an adjustment to the Competition Act that would prevent manufacturers from […] Read more
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