Surveyed Dealers Indicate New Inventory Levels 'Too Low' for First Time in 7 Years

According to the latest Dealer Sentiments & Business Conditions update, a net 1% of surveyed dealers indicated their new inventory levels were "too low" in June. This is the first time surveyed dealers have indicated their new equipment inventory levels were "too low" since July 2013.

YTO Group Announces Closure of French Factory, Lays Off Remaining Employees
According to a report from Info France 3 Champagne-Ardenne, the producer of agricultural transmissions has decided to close its factory in Saint-Dizier and lay off the remaining 35 employees.
Analytics Firm Pegs 2020 Corn Crop at 183 Bu/Acre
Kansas-based analytics firm, Main Street Data, is predicting the U.S. ag market will see record-setting 2020 corn yields of 183 bushels per acre. This forecast is above the 178.5 bushels per acre the USDA has forecast.
AGuru Machinery Announces Launch of Company
AGuru Machinery today announces their launch to the public, after 3 years of research and development to prepare. AGuru Machinery is a group of soil, seed and equipment professionals who have come together to do strip-till, better. Our mission is to Eliminate Compromise with Ingenuity, focused on strip-till practices and equipment.

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Mergers & Acquisitions

Valley Irrigation Acquires Ag Tech Company PrecisionKing
Valley Irrigation has acquired PrecisionKing, a Mississippi-based ag tech company with products focused on moisture monitoring, pump control and remote sensing, especially of flood irrigation.
Black Cliff Partners Acquires Kubota Dealership in Utah
BCP Equipment is officially the newest addition to the Black Cliff Partner portfolio. Specializing in expanded equipment lines for construction and large scale agriculture, BCP offers the most extensive full service network of Kubota equipment in Utah.
Grimme Takes Full Control of Danish Vegetable Harvester Manufacturer Asa-Lift
According to a report from Profi, Grimme has acquired the remaining shares of Danish vegetable harvester manufacturer Asa-Lift following its purchase of a 70% stake in the Danish company 7 years ago.

Earnings Reports

Kubota Reports Revenue Down 8.9% in First Half of 2020; Ag Sales Down 8.5%
For the six months ended June 30, 2020, revenue of Kubota Corporation and its subsidiaries (hereinafter, the “Company”) decreased by ¥86.7 billion or $820 million (–8.9%) from the same period in the prior year to ¥884.2 billion ($8.4 billion).
Titan International Reports Net Sales Down 26.7% in 2Q20; Ag Sales Down 12%
Net sales for the second quarter of 2020 were $286.1 million, compared to net sales of $390.6 million for the second quarter of 2019, representing a $104.5 million, or 26.7%, decrease.
Buhler Reports 3Q20 Revenue Up 19.5%; U.S. Sales Up 37%
Revenue for the quarter was C$76.6 million, up C$12.5 million from the prior year third quarter. Revenue for the first nine months of 2020 was C$185.7 million, up C$6.1 million from 2019.

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Opportunities in the Changing Economy

In the wake of corporate OEM restructuring and the economic impacts of COVID, dealerships are seeing both challenges and opportunities due to multitude of forces. Hear from the dealership and ag experts Marc Johnson and Clinton Baker from K·Coe Isom as they discuss the Opportunities for your Dealership in a rapidly changing economy.

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U.S. Large Tractor Sales Up YTD, While Canadian Sales Drop

The latest episode of On the Record is now available! In this week’s program, we look at how the first 6 months of 2020 fare in farm equipment sales compared to the 2016-19 average. In the Technology Corner, Jack Zemlicka discusses the idea of dealers selling strategic planning as a service. Also in this episode: small ag equipment sales make gains amid stay at home orders from COVID-19, European dealer sentiment improves and Art’s Way’s ag sales decline during 2Q.

Ag Economy Barometer Stable; Farmers Less Optimistic About Future
Farmer sentiment in July was virtually unchanged from a month earlier as the Purdue University-CME Group Ag Economy Barometer rose just one point to a reading of 118. The small change in the barometer left it 30% below its February 2020 peak and 23% below its level a year ago.
Surveyed Dealers Indicate New Inventory Levels 'Too Low' for First Time in 7 Years
According to the latest Dealer Sentiments & Business Conditions update, a net 1% of surveyed dealers indicated their new inventory levels were "too low" in June. This is the first time surveyed dealers have indicated their new equipment inventory levels were "too low" since July 2013.
June Equipment Financing Volume Up 33% Year-Over-Year
The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25) showed overall new business volume for June was $8.9 billion, down 10% year-over-year from new business volume in June 2019.
Iowa Leads in Biodiesel Production, Texas in Consumption
The U.S. Energy Information Administration (EIA) recently released new biodiesel estimates in the State Energy Data System (SEDS), EIA’s comprehensive source for annual state energy statistics.

Surveyed Dealers Indicate New Inventory Levels 'Too Low' for First Time in 7 Years

YTO Group Announces Closure of French Factory, Lays Off Remaining Employees

Analytics Firm Pegs 2020 Corn Crop at 183 Bu/Acre

AGuru Machinery Announces Launch of Company

Mergers & Acquisitions

Valley Irrigation Acquires Ag Tech Company PrecisionKing

Black Cliff Partners Acquires Kubota Dealership in Utah

Grimme Takes Full Control of Danish Vegetable Harvester Manufacturer Asa-Lift

Earnings Reports

Kubota Reports Revenue Down 8.9% in First Half of 2020; Ag Sales Down 8.5%

Titan International Reports Net Sales Down 26.7% in 2Q20; Ag Sales Down 12%

Buhler Reports 3Q20 Revenue Up 19.5%; U.S. Sales Up 37%

Webinar Replay

Opportunities in the Changing Economy

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U.S. Large Tractor Sales Up YTD, While Canadian Sales Drop

Data & Trends

Ag Economy Barometer Stable; Farmers Less Optimistic About Future

Ag Economy Barometer Stable; Farmers Less Optimistic About Future

Surveyed Dealers Indicate New Inventory Levels 'Too Low' for First Time in 7 Years

June Equipment Financing Volume Up 33% Year-Over-Year

Iowa Leads in Biodiesel Production, Texas in Consumption

Podcasts

[Podcast] On The Record: U.S. Large Tractor Sales Up YTD, While Canadian Sales Drop

[Podcast] On The Record: Dealers & Growers Report Improved Sentiment

[Podcast] On The Record: 2020 Crop Revenue Could be Lowest Since 2006

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Brand Loyalty in the Farm Equipment Business — 2020 (PDF)

2020 Big Dealer Report and Big Dealer Map (Bundle)

Tractor Sales Around the World - 2019 (PDF)

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Ag Economy Barometer Stable; Farmers Less Optimistic About Future

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