Dealer Optimism Index Turns Positive in June Survey

According to the latest Dealer Sentiments & Business Conditions update, our Dealer Optimism Index, which measures sentiment among dealers compared to the prior month, turned positive after dropping in March. Sentiment rose to 9% in May (34% more optimistic, 41% in line and 25% less optimistic) from –40% in the previous month.

Rite Way Acquires Morris Industries
According to a report from Farm Weekly, Rite Way has signed an agreement to take over full ownership of Morris Industries. This follows Morris Industries' entering into creditor protection in January of this year, when the company announced it planned to downsize due to a "liquidity crisis."
USDA Crop Progress Shows One Third of Soybeans Blooming
The latest Crop Progress report from USDA shows 31% of soybeans were reported blooming in the week ended July 5, almost four times the 8% reported blooming in the same week last year.
Dealer Optimism Index Turns Positive in June Survey
According to the latest Dealer Sentiments & Business Conditions update, our Dealer Optimism Index, which measures sentiment among dealers compared to the prior month, turned positive after dropping in March. Sentiment rose to 9% in May (34% more optimistic, 41% in line and 25% less optimistic) from –40% in the previous month.

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Mergers & Acquisitions

Rite Way Acquires Morris Industries
According to a report from Farm Weekly, Rite Way has signed an agreement to take over full ownership of Morris Industries. This follows Morris Industries' entering into creditor protection in January of this year, when the company announced it planned to downsize due to a "liquidity crisis."
Lindsay Corp. Acquires Net Irrigate
The company announced the acquisition of Net Irrigate LLC, an agriculture Internet of Things technology company that provides remote monitoring solutions for irrigation customers.
German Implement Manufacturer Rabe Acquired by German-Asian Investor Group
According to a report from Profi, both the Rabe brand and its factory in Bad Essen have been purchased by ZWL Holding, a German-Asian group of investors.

Earnings Reports

Art’s Way’s Ag Equipment Sales Decline 15.6% in 2Q20
On July 9, Art’s Way Mfg. reported consolidated sales for the 3 months and 6 months ended May 31, 2020 were $5,446,000 and $10,472,000, respectively, compared to $5,747,000 and $9,871,000 during the same respective periods in fiscal 2019.
Lindsay Corp. Reports 3Q20 Total Revenue Up 1.7%
Revenues for the third quarter of fiscal 2020 were $123.1 million, an increase of $2.1 million, or 2%, compared to revenues of $121.1 million in the prior year third quarter. Net earnings for the quarter were $10.1 million compared with net earnings of $2.9 million for the prior year third quarter.
Carraro Group Records Lowest Sales in 12 Years
Drive components and specialist tractor manufacturer Carraro Group recorded its lowest turnover in 12 years in 2019 as its principal sectors, agriculture and construction, felt the effects of a general slow-down in the global economy.

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An In-Depth Look at Ag Equipment Intelligence's 2020 Big Dealer Report

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Dealers & Growers Report Improved Sentiment

The latest episode of On the Record is now available! Both dealer and grower sentiment has improved after declining in wake of the COVID-19 pandemic. In the Technology Corner, Jack Zemlicka looks at the possibility of leasing equipment growing in popularity. Also in this episode: what changes in the ethanol industry could mean for the farm equipment business and an update on USDA's work to improve rural broadband access.

Farmers Less Pessimistic About Their Farms’ Financial Performance
According to the June Purdue University-CME Group Ag Economy Barometer, farmers were less pessimistic about their farms’ financial performance in June than they were in April and May of this year, but they were noticeably more negative than in early spring 2019.
Small Farms Often Rely on Principal Operator Labor, Large Farms Rely on Hired Labor
Overall, between 2014-18, U.S. farms used about 59% operator, spouse and family labor, compared to 41% paid labor. However, farms of different sizes relied on different mixes of labor.
Farmer Sentiment Continues to Rise in June
Farmer sentiment improved again in June as the Purdue University-CME Group Ag Economy Barometer rose 14 points to a reading of 117.
Dealer Optimism Index Turns Positive in June Survey
According to the latest Dealer Sentiments & Business Conditions update, our Dealer Optimism Index, which measures sentiment among dealers compared to the prior month, turned positive after dropping in March. Sentiment rose to 9% in May (34% more optimistic, 41% in line and 25% less optimistic) from –40% in the previous month.

Dealer Optimism Index Turns Positive in June Survey

Rite Way Acquires Morris Industries

USDA Crop Progress Shows One Third of Soybeans Blooming

Dealer Optimism Index Turns Positive in June Survey

Mergers & Acquisitions

Rite Way Acquires Morris Industries

Lindsay Corp. Acquires Net Irrigate

German Implement Manufacturer Rabe Acquired by German-Asian Investor Group

Earnings Reports

Art’s Way’s Ag Equipment Sales Decline 15.6% in 2Q20

Lindsay Corp. Reports 3Q20 Total Revenue Up 1.7%

Carraro Group Records Lowest Sales in 12 Years

Webinar Replay

An In-Depth Look at Ag Equipment Intelligence's 2020 Big Dealer Report

Featured Video

Dealers & Growers Report Improved Sentiment

Data & Trends

Small Farms Often Rely on Principal Operator Labor, Large Farms Rely on Hired Labor

Farmers Less Pessimistic About Their Farms’ Financial Performance

Small Farms Often Rely on Principal Operator Labor, Large Farms Rely on Hired Labor

Farmer Sentiment Continues to Rise in June

Dealer Optimism Index Turns Positive in June Survey

Podcasts

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

[Podcast] On The Record: Titan Machinery Posts Big Gains in 1Q

[Podcast] On The Record: Are Farmers Becoming Less Brand Loyal?

Featured Products

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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Small Farms Often Rely on Principal Operator Labor, Large Farms Rely on Hired Labor

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