News

Rocky Mountain Reports 21% Sales Drop in 3Q19; Reduces Inventories by $62M

October 30, 2019 | Posted in Earnings Reports

Rocky Mountain Dealerships (TSX:RME) Canada's largest farm equipment dealer group, posted a 21.1% decrease in total sales during the third quarter of 2019 ending Sept. 30. Sales during the period declined by $49,307 to $184,067 from $233,374 during the same period in 2018.

USDA Announces New Hemp Interim Ruling, Testing Guidelines

October 29, 2019 | Posted in Commodities

Source: USDA

After much anticipation, the USDA announced their interim ruling and federal guidelines for U.S. hemp farmers, including guidelines for how hemp will be sampled and tested for THC content. This new ruling will come into effect once it is published in the federal register on Oct. 31 and will sunset after 2 years, when a final ruling will be put into place.

AGCO’s 3Q19 Net Sales Dip 4.8%; Full Year Sales Forecast to Decline ‘Modestly’

October 29, 2019 | Posted in Earnings Reports

AGCO (NYSE: AGCO) reported net sales of approximately $2.1 billion for the third quarter of 2019, a decrease of approximately 4.8% compared to the third quarter of 2018. Excluding unfavorable currency translation impacts of approximately 3.1%, net sales in the third quarter of 2019 decreased approximately 1.7% compared to the third quarter of 2018.

Brandt Named as Exclusive Canadian Dealer for Wirtgen Group

October 25, 2019 | Posted in Ag Equipment Business

The Brandt Group of Companies has been named the Canada-wide dealer for the full range of aggregate and road construction and maintenance products from the Wirtgen Group, effective Dec. 1, 2019.

EPA Biofuel Package Receives Backlash, Skepticism

October 25, 2019 | Posted in Biofuels

Source: Reuters

Last week’s supplement proposal from the U.S. Environmental Protection Agency (EPA) concerning ethanol blending requirements was met with considerable backlash from both ethanol and oil lobbies, according to a report from Reuters.

Trade Issues Cloud Dealers’ View of 2020

By Dave Kanicki posted on October 24, 2019 | Posted in Analysis & Commentary

The opening line to a recent Wall Street Journal early morning guide to the day’s top news read “… investors face geopolitical uncertainties …” Well, WSJ readers, welcome to our world. There is one thing that is certain about uncertainty. It is that nobody likes it. Not investors or farmers, and from our corner of agriculture, farm equipment dealers and manufacturers. Nonetheless, it’s what we’ve got to work with these days.

Valmont 3Q19 Revenue Grows 1.7% to $690.3 Million

October 23, 2019 | Posted in Earnings Reports

Source: Valmont Industries

Valmont Industries, Inc. (NYSE: VMI), a global provider of engineered products and services for infrastructure development and irrigation equipment and services for agriculture, reported financial results for the third quarter ended Sept. 28, 2019.

Hemp Prices Set to Decline, Market Oversupply Forecast

September 27, 2019 | Posted in Commodities

With most farmers in the U.S. still getting into the swing of producing hemp, a price crash may be coming before many can cash out on their crops, according to HempToday. Current estimates show the U.S. market is growing 8 times more hemp for CBD than can be consumed by the market.

John Deere Reveals New 'Driverless' Tractor Concept

September 26, 2019 | Posted in Electric Machinery, Technology

Source: Agriland

John Deere revealed their new, autonomous concept tractor at a dealer meeting in Valencia, Spain, according to Agriland, an Irish agriculture publication. The apparently cab-less tractor will have a rated (electric) power output of 500kW (approximately 680hp).

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Rocky Mountain Reports 21% Sales Drop in 3Q19; Reduces Inventories by $62M

USDA Announces New Hemp Interim Ruling, Testing Guidelines

AGCO’s 3Q19 Net Sales Dip 4.8%; Full Year Sales Forecast to Decline ‘Modestly’

Brandt Named as Exclusive Canadian Dealer for Wirtgen Group

EPA Biofuel Package Receives Backlash, Skepticism

Trade Issues Cloud Dealers’ View of 2020

Valmont 3Q19 Revenue Grows 1.7% to $690.3 Million

Top 10 Ag Equipment Intelligence Stories in September 2019

Hemp Prices Set to Decline, Market Oversupply Forecast

John Deere Reveals New 'Driverless' Tractor Concept

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