Milan | Reuters – Agricultural and construction machine maker CNH Industrial CNHI.MI beat estimates on Friday with a 14 percent rise in industrial operating profit in the second quarter and confirmed its full year outlook despite bracing for a global recession. “Whether we face a global recession in 2023 is up for debate, but we […] Read more
CNH Industrial beats profit estimates, confirms outlook despite recession fears
Farmers, exhibitors hail Ag in Motion’s in-person return
Ag ministers check out event on Day 2
Attendance numbers at the first live Ag in Motion in three years are an indication that demand for outdoor farm shows is as high as ever, show director Rob O’Connor says. O’Connor said he wasn’t sure what to expect after momentum building during the show’s first five years was quashed when the COVID-19 pandemic response […] Read more
PAMI to close Portage la Prairie location
Revenue challenges in recent years blamed for Manitoba site's closure
The product development, testing and design firm Prairie Agricultural Machinery Institute (PAMI), will be closing its Portage la Prairie, Man. location at the end of July. Citing revenue challenges in recent years as the reason for downsizing, the institute informed staff and clients of the closure of its River Road facility in Portage, prior to […] Read more
The buyers are willing but the equipment supply chain is weak
Farm equipment sales jump but availability of new machines and parts for older ones remain an issue
Reading Time: 4 minutes Driven by high commodity prices and low interest rates, sales of farm equipment shot up last year — but getting delivery was a huge headache for many. Sales of four-wheel-drive tractors in Canada rose 33 per cent, 100+ horsepower tractors were up 34 per cent, and combines were up 23 per cent, according to data […] Read more
‘Petro-plectic’ anger rises toward fuel prices
Fuel refiners seen booking 'epic' revenues
MarketsFarm — Fuel prices are very likely to continue to increase with summer approaching, according to Tom Kloza, the Florida-based global head of energy analysis for Oil Price Information Services. “I wish I could say there’s a light at the end of the tunnel, but I would say right now, it’s just a flicker,” he […] Read more
Partnership gives Prairie ag students new 800-acre opportunity
Saskatchewan farmland bequest expanded Smart Farm eastward
Students from Saskatchewan Polytechnic and Olds College will be getting more opportunities to collaborate with each other on a large scale. The two institutions have signed a memorandum of understanding (MOU) which entails both schools working together for five years on various programs, notably Olds College’s Smart Farm operation. The partnership comes as a result […] Read more
CNH buys spray boom manufacturing capacity
Specialty Enterprises has supplied Case IH with booms
A Wisconsin company that has supplied aluminum spray booms for Case IH sprayer product lines has been brought in-house. CNH Industrial, owner of the Case IH and New Holland brands, announced May 23 it has bought Specialty Enterprises, which is billed as North America’s biggest maker of aluminum spray booms for farm applications as well […] Read more
Farm census snapshot: Big farms, big dollars, and not getting any younger
Reading Time: 4 minutes Bigger, more valuable, and older. Those are key words emerging from the latest Census of Agriculture. The broad strokes from the 2021 census confirm trends that are well known: Farms are consolidating and getting bigger, land and other assets are worth more, revenues and expenses are both going up, and the high cost of getting […] Read more
Deere tapping into Apple-like tech model to drive revenue
'Hopefully the costs will be paid back in the long run'
Bondurant, Iowa | Reuters — Deere and Co. has sold its tractors and other equipment to farmers for decades, but the world’s largest agriculture machinery manufacturer is tearing a page from the technology world’s playbook — combining cutting-edge hardware with software and subscription models to drive revenue growth. In a world with a dwindling number […] Read more
Southern Ontario Kubota dealer chain sold
Robert's, Stewart's buy Earth Power dealerships
A chain of Kubota dealerships in southern Ontario is selling its three links to two separate new owners. Earth Power Tractors and Equipment, owned in partnership by Jim Kelly and Jeff Cook since 2005, said Thursday it has a deal in place to sell its sites at Owen Sound and nearby Meaford to Robert’s Farm […] Read more
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