Farmers may soon begin seeing new names appearing on the sides of implements made by Rite Way Manufacturing and Morris Equipment as the two brands begin operating under parent company Superior Farms Equipment Ltd.
Rite Way and Morris to operate under new parent company
Deere cuts 2024 profit forecast as sliding farm income stifles demand
Deere has trimmed its annual profit forecast for the second time, squeezed by slumping demand for tractors and combines as falling crop prices pressure farm income.
Machinery firm LEMKEN hit by hackers
German machinery manufacturer LEMKEN says its been the victim of a cyber attack.
Too many tractors: As boom times fade, farm equipment piles up
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.
Ag tech venture capital stays on sidelines
Entrepreneurs need patience, more plan to achieve profitability to unlock investment
Agriculture venture capital investment was an outlier in 2023, as it increased slightly over 2022, according to the Canadian Venture Capital Association (CVCA). However, that news belied pessimism on the state of ag tech at the recent Agri Tech Venture Forum in Toronto. The forum heard that the availability of capital for agriculture technology entrepreneurs has dried up significantly compared to the heady days of investment growth during the pandemic years.
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.
‘Mobile skills lab’ to promote careers in ag
Saskatchewan equipment manufacturers receive government funding aimed at finding more workers
A new high-tech “Careers in Ag Mobile Skills Lab” will begin a summer tour of Saskatchewan at Ag in Motion July 16 to 18 to help develop a “talent pipeline” for ag and ag equipment manufacturing.
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
