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Spinning Off On-Highway Segment is Only Part of CNHI’s Longer Term Plan

While the news that CNH Industrial plans to split the company into two distinct business segments — off-highway and on-highway — garnered the most attention, its ambitions for its agricultural segment will bear close watching for Ag Equipment Intelligence readers. Off-highway will include the company’s ag, construction and specialty vehicle business. The on-highway company will be comprised of its trucking, commercial buses and vehicles and powertrain operations.

  • U.S. Big Ag Sales Rebound in August

    Sales of large farm machinery sales posted double digit gains in August, but Canadian sales remained soft, according to the latest figures released by the Assn. of Equipment Manufacturers.

  • Syngenta Acquires Ag Software Firm Cropio

    Syngenta has announced that it has completed the acquisition of all relevant assets of The Cropio Group, an Ag Tech company with a presence in over 50 countries and with a primary focus in Eastern Europe. Approximately 25 million acres of crops are currently managed using Cropio.
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Mergers & Acquisitions

  • Royal Reesink Acquires GenAg and Hepson Equipment

    Royal Reesink announced it has bought controlling stakes in the two companies. GenAg has two dealerships, one at Portage la Prairie and the other between Winkler and Morden; Hepson operates one just north of Brandon.

  • Agrisolutions Acquires Sülberg

    Agrisolutions, the leading wearable components and accessories group that services the global agricultural marketplace with its 5 brands, announced the signing of a definitive agreement to acquire Carl Sülberg GmbH (Sülberg).

  • Titan Machinery Acquires North Dakota Dealership

    After posting a solid first half of its fiscal year 2020, Titan Machinery resumed its acquisition efforts and announced on Sept. 11 that it is acquiring the Uglem-Ness Co. dealership in Northwood, N.D.
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Earnings Reports

  • Cervus Equipment 2Q Revenue Declines 20%; Ag Falls 25%

    Cervus Equipment Corp., a 21 store John Deere dealership group, reported that overall revenue decreased 20% in the quarter, with reduced equipment sales in its Agricultural segment comprising the majority of the decrease, while a tapering of truck sales in its Transportation sector relative to the strong sales of 2018 was a secondary factor. Overall revenues include agriculture (56%) and transportation (34%) and industrial (10%) business segments.
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CNH Industrial 5-Year Plan Includes Spinning Off ‘On-Highway’ and Consolidating Dealer Network

The latest episode of On the Record is now available! Ag Equipment Intelligence editors were on hand for CNH Industrial’s announcement of its 5-year strategic plan, which includes spinning off its “On-Highway” business. Also in this episode, we review Titan Machinery’s 2Q results, provide updates on precision farming and New Holland from the Farm Progress Show, and review one analyst’s observation on corn prices.
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Data & Trends

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Ag Economy Barometer

U.S. Soybean Production & Value Expected to Decline in the 2019-20 Marketing Year

Dealers who Ag Equipment Intelligence editors have spoken with in recent weeks say the corn growers in their areas are in better shape than soybean producers. As a result, they aren’t expecting their customers growing soybeans to be in the spending mood when it comes new or updated equipment.

This month’s Crop Production and the September Supply & Demand reports probably lifted the spirits of soybean producers, at least a little. Following the reports November soybean futures closed 29¢ higher at $8.95/bushel. January soybean futures closed 28.5 cents higher at $9.09. Corn also got a lift, finishing 7.5 cents higher at $3.67, while March corn futures were up 7.5 cents at nearly $3.80/bushel. Also, on Sept. 12, China said that it would resume purchases of soybeans and hogs.

  • Fed’s August Beige Book Reports Continued Weak Ag Conditions

    The most recent Beige Book (August 2019) released by the Federal Reserve System included conditions impacting agriculture throughout the country. Overall, it found that agricultural conditions “remained weak as a result of unfavorable weather conditions, low commodity prices and trade-related uncertainties.”

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