Overall, U.S. farmers are expected to end up in the black for 2020, largely due to government payments aimed at lessening the impact of the COVID-19 pandemic. According to USDA economists, net farm income (NFI) is forecast to increase $18.3 billion (up 21.7%) from 2019 to nearly $103 billion in the current cropping year.
Despite years of persistently low commodity prices and the COVID-19 pandemic, the mood of some Ninth District agricultural bankers is surprisingly upbeat, according to a recent Federal Reserve Bank of Minneapolis survey.
In its summer edition of The Feed, Farmer Mac, the largest secondary market for U.S. agricultural credit, provides a look at the current state of ag commodities and possibilities of where they’re heading to in the short and mid-term.
A continued lower price environment, uncooperative weather events over the past year, trade uncertainty and COVID-19 have all contributed to depressed net cash farm income levels and placed upward pressure on farm bankruptcies.
Kuhn Group’s order intake was a bright spot in a period when the COVID-19 pandemic created production, distribution and sales challenges that caused a dip in revenues relative to 2019.
The Deutz engines business was already feeling the impact of the coronavirus pandemic in the first quarter of 2020 and, as the year progressed, all areas of the Company’s business were noticeably affected, as expected, in terms of both activities and performance.
The general Business Climate Index for the Agricultural Machinery Industry in Europe has continued to improve, and thus has completely reached the pre-COVID-19 level, which however was already negative. Now, in August 2020, the index is at –6 points (on a scale of –100 to +100).
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.
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Precision ag pioneer Al Myers is a member of the Farm Equipment Shortline Legends Hall of Fame 2024 class. It’s been almost 35 years since the Ag Leader founder introduced the groundbreaking Yield Monitor 2000.