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On the Record Podcast

[Podcast] Nearly Two-Thirds of Farmers Identify as ‘Brand Loyal’

By Kim Schmidt posted on July 26, 2024 | Posted in Data & Trends
In this episode of On the Record, brought to you by Benzi America, we take a look at results of the 2024 Brand Loyalty study. In the Technology Corner, we examine how USDA’s use of ag data raises privacy concerns. Also in this episode, a look at the ag equipment companies that made the Industry Week U.S. 500 report and JP Morgan analysts say the rate of decline in the ag industry is expected to decrease.
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[Technology Corner] USDA Use of Ag Data Raises Data Privacy Concerns Among Farmers

July 26, 2024
The USDA, other U.S. government agencies and private companies use ag data to measure the impact of initiatives aimed at sequestering carbon. In 2022, the USDA announced a $3.1 billion program aimed at funding climate-smart commodity projects through collecting data, but a recent survey found that 58% of farmers do not trust government offices with their data. Agricultural attorney Todd Janzen says that the USDA cannot disclose specific information provided by producers or owners of agricultural land.
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AEI Newsmakers: July 2024

July 15, 2024 | Posted in Ag Equipment Business, Dealers & Dealerships, Mergers & Acquisitions
  • CamoAg, a provider of agricultural data solutions, and Fusable,...
  • John Schmeiser will no longer be serving as chief operating officer of NAEDA...
  • For the second quarter ended May 31, 2024, Art’s Way Agricultural Products segment sales...
  • Leon’s Mfg. has entered receivership. Ernst & Young has been named the appointed receiver for the case....
  • Coldwell Banker Commercial Realty announced the $7 million sale of a 234-acre undeveloped parce...
  • J.P. Morgan analysts view the USDA’s latest 2024-25 and 2023-24 global supply and demand estimates....
  • “We view today’s report as positive for U.S. corn and soybean farmers to the extent lower new crop...

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AEI Newsmakers: June 2024

June 17, 2024 | Posted in Ag Equipment Business, Mergers & Acquisitions
  • Investment group Kinperium Industries acquired Hiniker Co., effective June 3....
  • Bridgestone-Firestone announced June 6 it would be cutting jobs at its Des Moines, Iowa, plant...
  • JCB announced June 4 a new $500 million factory in San Antonio, Texas — the biggest investment in the firm’s history...
  • Shivvers Manufacturing, a manufacturer of grain drying technology, acquired Haber Technologies...
  • Following the acquisition of Canadian implement manufacturers Morris Equipment Ltd. and Rite Way Mfg. Co. Ltd. in March 2021...
  • LS Tractor USA is opening a new warehouse in Battleboro, N.C., for its parts department...
  • SeedMaster, a Canadian manufacturer of no-till seeding technology, invested $10 million...
  • In its June 12 WASDE report update, USDA’s 2024/25 ending stocks are estimated at 2.102 billion bushels of corn...
  • AGCO announced May 23 its recent investment in the Innova Ag Innovation Fund VI of venture capital firm...
  • Ohio Ag Equipment informed customers on May 17 that it was ending its distribution arrangement with AGCO...

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AEI Newsmakers: April 2024

April 15, 2024 | Posted in Data & Trends, Dealers & Dealerships, Equipment & Equipment Sales
  • Fossil-free steel manufacturer SSAB announced April 10 that John Deere Forestry Oy will replace some of the steel...
  • Same Deutz-Fahr announced March 6 it has opened a sales branch in Santiago de Querétaro, Mexico...
  • The U.S. Department of Energy announced March 14 a conditional commitment to Lithium Americas Corp’s subsidiary, Lithium Nevada Corp., for a $2.26 billion loan...
  • Pricing lifecycle management company Zilliant announced a strategic relationship with AGCO...
  • Tire manufacturers Mitas and Trelleborg announced April 12 that, effective May 2024, they will increase global prices by up to 5%...
  • The Federal Aviation Administration recently granted Texas-based drone builder Hylio a regulatory exemption that will allow it to swarm its heavy-lift drones...
  • CEMA’s general business climate index decreased to a reading of –57 in the April survey vs. –55 last month... 
  • VDMA reported German tractor registrations down 2% year-over-year in March (flattish year-over-year in Q1)...
  • Effective April 1, José Cuadrado has been appointed global chief executive officer at Yanmar Compact Equipment...
  • In its March 11 WASDE report update, USDA’s 2023-24 ending stocks are estimated at 2.122 billion bushels of corn...

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AEI Newsmakers: March 2024

March 15, 2024 | Posted in Dealers & Dealerships, Mergers & Acquisitions
  • A Feb. 28 report from World Construction Network said Kubota had filed a patent for an audio signaling system for automated machines...
  • CNH Industrial announced March 4 a strategic alliance with Telecom Argentina to bring 4G connectivity and digital services...
  • John Deere reported that changing a 620 horsepower 9R tractor to a fully electric version would mean adding almost 60 batteries...
  • Chevron Corp. subsidiary Chevron Renewable Energy Group Inc. will close 2 U.S. biodiesel production plants amid market challenges...
  • Unverferth Manufacturing is looking to hire 45-55 additional people to support increased demand and diversification...
  • Kubota is considering making its own batteries for its ag equipment...
  • Drone, sensors and software solutions provider AgEagle Aerial Systems Inc. announced on March 7 the appointment of retired U.S. Army Major General...
  • In its March 8 WASDE report update, USDA’s 2023-24 U.S. ending stocks are estimated at 2.172 billion bushels of corn...
  • VDMA reported German tractor registrations up 2% year-over-year in February (up 1% year-to-date)...
  • CEMA’s general business climate index decreased to a reading of –55 in the March survey vs. –52 last month...    

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AEI Newsmakers: December 2023

November 15, 2023 | Posted in Analysis & Commentary
  • the U.S. replaced mainland China as the top buyer of Taiwanese agricultural products for the first time last year.
  • Jost, a producer and supplier of safety-critical systems for the commercial vehicle industry, has announced the construction of a second production plant near the southern Indian city of Chennai.
  • Amazone and FieldView, Bayer’s platform for digital agriculture, announced Nov. 22 they are starting a strategic collaboration with the aim of further promoting and simplifying the adaptation of smart farming practices.
  • In its Dec. 8 WASDE report, USDA 2023-24 U.S. corn outlook is for higher exports and lower ending stocks. Exports are raised 25 million bushels to 2.1 billion reflecting the pace of sales and shipments to date.
  • VDMA reported German tractor registrations down 4% year-over-year in November (flattish year-to-date).
  • Ag tire and wheel manufacturer Trelleborg announced Dec. 4 that its first facility in Vietnam had begun production.
  • Canadian ag equipment manufacturer S3 Group Ltd. announced Nov. 8 its acquisition of Power Pin Inc.
  • Guardian Agriculture, a developer of electric Vertical Take-Off and Landing (eVTOL) systems for commercial-scale farming, announced Dec. 4 that it has become the first eVTOL manufacturer to begin commercial operations.

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AEI Newsmakers: November 2023

November 15, 2023 | Posted in Analysis & Commentary
  • According to EquipmentWatch’s 2022 Highest Retained Value Awards, John Deere had the highest 5-year residual value in tracked tractors at 67.3% among manufacturers, above the 57.9% category average.
  • Northeast China could soon become a hotbed for international industrial investment, according to an Oct. 23 report from New China News Agency.
  • Yanmar Turkey announced Oct. 12 the inauguration of its Tractor Production Plant in Izmir, Turkey.
  • The Nigerian government said John Deere intends to open a tractor assembly plant in the country, according to an Oct. 31 report from Nairametrics.
  • In a Nov. 4 report from The Wall Street Journal on retrofit kits for autonomy, AGCO stated 7% of farmers globally replace their equipment every year, leaving 93% using older models as potential customers for upgrades.
  • According to CEMA, an industry trade association, the general business climate index for the European ag equipment industry has again fallen month-over-month.
  • Manitou Group has announced an agreement to acquire 75% of COME S.R.L, a company specializing in the production of mechanically welded parts, and 75% of Metal Work S.R.L, a company specializing in laser cutting. 

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