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).
Tractors continue unusually strong sales in November
Many types of machinery have seen price hikes of around 30 per cent or more
Equipment sales expected to soften in 2024
Interest rates, equipment prices and commodity prices will all play a role, says FCC
According to FCC's 2024 outlook for the Canadian farm equipment market, new sales are projected to be softer in 2024 based on three factors: higher interest rates, elevated equipment prices and a decline in commodity prices.
Deere strikes right to repair deal with American Farm Bureau
Agreement pledges ‘fair and reasonable access’ to codes, data, manuals and diagnostic tools
Reading Time: 2 minutes A deal between the American Farm Bureau Federation and Deere and Co. will ensure farmers have the right to repair their own equipment or go to an independent technician, says the farm group. “This will enable you and your independent mechanics to identify and fix problems,” said Zippy Duvall, president of the farm bureau, which […] Read more
CNH Industrial beats profit estimates, confirms outlook despite recession fears
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
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
Pandemic border protests strand cattle and car parts
Ottawa | Reuters — Protests in Canada against vaccine mandates have disrupted two key U.S. border crossings, and are snarling hundreds of millions of dollars daily of trade, ranging from cattle to car parts. Demonstrations who at first demanded an end to federal COVID-19 vaccine mandates for cross-border truck drivers began Jan. 28 in the […] Read more
CNH Industrial bets on strong market to counter worst supply chain situation
Milan | Reuters – Italian-American vehicle maker CNH Industrial on Friday raised its revenue and free cash flow forecasts for this year, confident an industry cyclical upturn would help it offset a severe impact from supply chain constraints. “It’s the worst supply chain situation I’ve seen in my career,” Chief Executive Scott Wine told analysts. […] Read more
‘Essential’ travel rule fuzzy on farmers picking up parts, inputs
U.S. border officers will have final say on Canadian farmers' cross-border business trips
Whether Canadian farmers can continue to pick up machinery parts and other products for their operations in the United States is at the discretion of U.S. Customs and Border Protection officers. At 11:59 p.m. ET Friday, Canada and the U.S. temporarily restricted non-essential travel between the two nations to try and slow the spread of […] Read more
Machinery costs driving up fixed farming expenses
MarketsFarm — Fixed costs on farms continue to rise year-over-year, a statistic largely attributed to increasing land values and interest rates. At the beginning of 2019, Farm Credit Canada (FCC) reported farmland values across Canada increased by an average of 6.6 per cent during the previous year. But that’s not the main driver of fixed […] Read more
Deere bets on cost cuts, services push to boost profits
Chicago | Reuters — Deere and Co. on Wednesday said it will cut costs and ramp up investment in data-driven agriculture technology and its services business to make itself more profitable. In a pitch to investors, CEO John May said the measures are expected to boost operating profit margin to 15 per cent by 2022 […] Read more
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