Prices being paid for farmland across Illinois have seen a softening of from 2.0 percent to 4.1 percent according to the Midyear Land Values Snapshot Survey done by the Illinois Society of Professional Farm Managers and Rural Appraisers.
Last week, Deere & Co. reported its second-quarter net sales and revenues were down by 9% to $9.9 billion and net sales and revenue, and net income fell to $981. Overall, worldwide equipment sales fell by 10% to $9.2 billion.
Source: Dealer Sentiments & Business Conditions Update, April 2014
For the second month in a row, North American farm equipment dealers are reporting that manufacturers have become more aggressive with incentives to increase machinery sales.
Nearly 90% of dealers polled for Ag Equipment Intelligence's '2014 Dealer Business Outlook & Trends' survey say they expect prices for new equipment next year to rise between 1% and 6%. Only 2.8% of dealers say they don't expect increases for the price of new equipment in 2014.
For farm equipment dealers, planning for agriculture's business cycles must involve close contact with customers. In addition to observing economic indicators over a period of time, it's essential for dealers to put the data into context with history and customer input, says Graham Drake, president and CEO of Cervus Equipment Co.
This may be off our beaten path of focusing on farm machinery trends, but Ag Equipment Intelligence editors came across this bit of information on rising food prices vs. rising fuel prices and thought we would pass it along.
Since much of what we're reading these days is about the drought of 2012 and its impact on commodity prices and ultimately its effect on food prices, I am reminded of the risk-reward tradeoff I learned about back in my college days. It makes me wonder why no one pays much attention to the risk? side of the equation. According to the risk-return tradeoff, you must spend money to make money. Or more correctly, it says reinvested money can render higher profits only if it is subject to the possibility of being lost.?
According to a June report in the Wall Street Journal, Ethanol demand is topping out. The amount used in gasoline is near federal mandates, and gasoline consumption is declining. After 15 straight years of growth, ethanol production this year will fall slightly and will be roughly flat next year, according to the U.S. Energy Information Administration's May forecast.?
In this episode of On the Record, brought to you by Associated Equipment Distributors, we take a look at CNH Industrial’s goals for growing its precision business by 2030.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.
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