Feature_KC-Fed-10th-District-Farm-Spending

Ag Bankers Keep Watchful Eye on Falling Farm Incomes

Federal Reserve Banks in Kansas City, St. Louis and Chicago are reporting increasingly difficult credit conditions for farmers. Most cite the ongoing low commodity prices and trade issues for growers’ and ranchers’ difficulties.

Claas Rated Top Full line Mfr. In EDA’s Dealers’ Choice Program
The Equipment Dealer’s Assn. announced the recipients of the 2019 Dealer’s Choice and Gold Level awards. The Dealer’s Choice Award is presented to the top rated company in each of EDA’s four manufacturer categories based on results of the annual Dealer-Manufacturer Relations Survey.
Crop Planting Progress Remains Far Behind Last Year and 5 Year Average
With improved weather in much of the Corn Belt this week farmers should make some significant progress in getting their corn and soybeans in the ground. They will need it because, as of this past Sunday, May 12, planting lagged far behind what one might expect at this point in the season.
April Farm Equipment Sales Decline in Canada
Canadian sales of farm machinery in April were mostly down, according to figures released by the Assn. of Equipment Manufacturers.

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Mergers & Acquisitions

True North Equipment Adds 4 Locations with Acquisition of Evergreen Implement
With the acquisition, it will add 4 new stores in Minnesota including Warren, Thief River Falls, Mahnomen and Baudette. True North will have 8 retail locations in Minnesota and North Dakota following the acquisition.
Prairieland Partners LLC Acquires O'Malley Equipment
Prairieland Partners, LLC has entered an agreement to purchase O'Malley Equipment Company pending John Deere approval. The dealership will have 15 locations once the acquisition is finalized in June of 2019.
Ellens Equipment Adds Location in Ithaca, Mich.
Family-owned New Holland dealer Ellens Equipment is opening its second location in Ithaca, Mich. The Ithaca location is includes a 23,094 square foot building and a 4 acre lot and is the site of a former grocery store.

Earnings Reports

Deere Reports 2Q19 Ag Net Sales Up 3%
Deere & Co. reported net income of $1.135 billion for the second quarter ended April 28, 2019, compared with net income of $1.208 billion for the quarter ended April 29, 2018.
Ag Growth International Posts 1% Drop in 1Q19 Revenues
Ag Growth International, a manufacturer of grain handling and storage equipment for farms, reported that overall revenues for the first period of the year fell 1% year-over-year. Most of the falloff was the result of an 18% drop in international sales.
Cervus Equipment’s New Equipment Sales Slide 19%, But Used Ag Equipment Up 21% in 1Q19
Cervus Equipment posted a 6% drop in consolidated revenues for the first quarter of 2019, ended March 31. Overall, revenue declined to C$234.8 million from $248.7 million in the first quarter of 2018.

Audio Edition

Ag Equipment Intelligence — April 2019

The Audio Edition of April 2019 newsletter is now available to our subscribers. This additional new format is another way for Ag Equipment Intelligence VIP members and subscribers to stay up-to-date on the latest news and trends from the worldwide farm equipment industry.

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Deere Reports 2Q Revenues of $11.3 Billion

The latest episode of On the Record is now available! In this week’s program, we report on Deere & Co.’s second quarter earnings and outlook for the remainder of the year. Publicly traded dealer groups Cervus Equipment and Rocky Mountain Dealerships both reported their first quarter results recently, and put an emphasis on moving used equipment in the quarter. CNH Industrial’s first quarter results took a hit due to unfavorable exchange rates. Also in this episode, Stanley Elliot, analyst with Stifel, provides some analysis of the 2017 USDA Census of Agriculture. In the Technology Corner, Jack Zemlicka talks about planned updates to the Agricultural Electronics Foundation’s compatibility database.

Equipment Leasing & Finance Industry Confidence Improves in May; Ag Bankers Comment on Conditions
The Equipment Leasing & Finance Foundation released the May 2019 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $1 trillion equipment finance sector.
April 2019 Tractor & Combine Analysis
2019 continues to unfold as a good year for the smaller horsepower tractors and equipment which are driven by the U.S. general economy, and a weak year for production agricultural equipment sales as net farm income continues to decline.
Producers' View of Economic Conditions & Future Expectations Drops
The Purdue University/CME Group Ag Economy Barometer plummeted in April, declining to a reading of 115, an 18 point decline compared to March when the sentiment index stood at 133.
1Q19 Ag Equipment Sales Strongest in Mountain/Pacific Region
Dealers report that first quarter sales trends were negatively impacted by wet and cold weather, with only 2 of 6 regions showing sequential improvement from the fourth quarter of 2018.

Ag Bankers Keep Watchful Eye on Falling Farm Incomes

Claas Rated Top Full line Mfr. In EDA’s Dealers’ Choice Program

Crop Planting Progress Remains Far Behind Last Year and 5 Year Average

April Farm Equipment Sales Decline in Canada

Mergers & Acquisitions

True North Equipment Adds 4 Locations with Acquisition of Evergreen Implement

Prairieland Partners LLC Acquires O'Malley Equipment

Ellens Equipment Adds Location in Ithaca, Mich.

Earnings Reports

Deere Reports 2Q19 Ag Net Sales Up 3%

Ag Growth International Posts 1% Drop in 1Q19 Revenues

Cervus Equipment’s New Equipment Sales Slide 19%, But Used Ag Equipment Up 21% in 1Q19

Audio Edition

Ag Equipment Intelligence — April 2019

Featured Video

Deere Reports 2Q Revenues of $11.3 Billion

Data & Trends

Large Ag Equipment Still in ‘Early Innings’ of Replacement Driven Demand Recovery

Equipment Leasing & Finance Industry Confidence Improves in May; Ag Bankers Comment on Conditions

April 2019 Tractor & Combine Analysis

Producers' View of Economic Conditions & Future Expectations Drops

1Q19 Ag Equipment Sales Strongest in Mountain/Pacific Region

Podcasts

[Podcast] On The Record: Deere Reports 2Q Revenues of $11.3 Billion

[Podcast] On The Record: Big Dealer Report Reveals Big Dealers Getting Bigger

[Podcast] On the Record: CNH Industrial Makes 3-D Printing Reality for Ag Equipment

Featured Products

2019 Big Dealer Report (PDF)

2019 AEI Dealer Business Outlook and Trends (PDF) - Farm Equipment Forecast

Big Shortline Report: A Listing of Specialty Ag Equipment Manufacturers (PDF)

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