4-23-2024 |  Biweekly eNewsletter

Do you have a news story from your dealership that you want to share with your fellow dealer members? Email the details to us at marketing@ineda.com!

The Iowa-Nebraska Equipment Dealers Association and the Pioneer Equipment Dealers Association are conducting a five-state comprehensive “2024 Compensation & Benefits Survey” specifically designed for agricultural and construction equipment dealers.

By completing this 2024 Compensation & Benefits Survey, you will be contributing to the creation of the most accurate and comprehensive regional compensation information that is available for equipment dealers. 

We kindly request that all 2024 Compensation & Benefits Survey responses be submitted by April 30th, 2024. 

To take the survey or to learn more click here: Read more »

CNH Industrial plans to lay off more than 200 out of the 660 workers at its Racine, Wis., facility and considers moving operations to Mexico with the intent of reducing costs by $150 million as part of a company reorganization, according to a statement from Senator Tammy Baldwin addressed to CNH Industrial CEO Scott Wine.

In January 2023, more than 1,000 United Auto Workers (UAW) in Racine, Wis., and Burlington, Iowa ratified a new contract for Locals 180 and 807 after a 260-day strike, according to a BizTimes article. The new contract included wage increases, shift premium increases and classification upgrades among other improvements.

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"I hate for the truth to ruin a good story, but we're still here, we're still working and we're still developing new technologies," says Robin Mackie, interim CEO of Solectrac, the electric tractor manufacturer that has been in the news this week for its eviction from a Santa Rosa development facility.

On April 8, 2024, the North Bay Business Journal reported that "The Sonoma County-based electric tractor company undergoing a major reorganization was evicted from its Santa Rosa location and owes $65,223 in back rent, the property owners say."

The truth, says Mackie, is more nuanced than that.

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The first quarter of 2024 isn’t even complete, and dozens of new machinery innovations for farmers have already been introduced this year. In case you missed the flurry of introductions at National Farm Machinery Show, Commodity Classic, and World Ag Expo this winter, here’s a closer look at the latest planting, harvesting, and other equipment for farmers.

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AGCO Corporation (NYSE: AGCO) and Trimble (Nasdaq: TRMB) today announced the closing of their joint venture (JV) transaction. The JV, known as PTx Trimble, combines Trimble's precision agriculture business and AGCO's JCA Technologies to form a new company that will better serve farmers with factory fit and retrofit applications in the mixed-fleet precision agriculture market.

AGCO has acquired an 85% stake in PTx Trimble, and Trimble will hold a 15% stake. Going forward, the PTx Trimble JV will be consolidated into AGCO's financial statements.

"Farmers worldwide need technologies that support them to be more productive and profitable while minimizing the environmental impact of their operations," said Eric Hansotia, AGCO's Chairman, President and Chief Executive Officer. "PTx Trimble will provide farmers greater access to next-generation precision ag tools, no matter what brands of tractors and implements they operate."

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Driven by conversations with its quarry and aggregate customers, Volvo Construction Equipment has reconfigured one of its most popular wheel loader models, the L180H, to a new truck-loading variation, the L180 3-pass rehandler.

Designed to provide operators with an efficient machine for rehandling applications, the reconfigured wheel loader, weighing in at 66,712 pounds, has larger tires, a higher tipping load, longer reach, and improved fuel efficiency, the company says.

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According to the Association of Equipment Manufacturer's monthly "Flash Report," the sale of all tractors during March 2024, in the U.S. were down 12% from the same month last year.

In March, a total of 18,917 tractors were sold which compares to 21,531 sold in 2023.

For the month, two-wheel drive smaller tractors (under 40 HP) were down 16% from last year, while 40 & under 100 HP were down 7%. Sales of 2-wheel drive 100+ HP were up 3%, while 4-wheel drive tractors were down 9%.

Combine sales in March totaled 389 down 23% from last year.

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AGCO Corporation, a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, has announced the launch of PTx, a new brand representing its precision ag portfolio. PTx combines precision ag technologies from the cornerstones of AGCO’s tech stack: Precision Planting and its newest joint venture (JV), PTx Trimble.

The strategic alignment of these brands will facilitate the rapid growth of AGCO’s technology transformation and will support the future development and distribution of next-generation ag technologies for farmers and original equipment manufacturers (OEMs).

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March 4 (Reuters) - U.S. refiner Valero Energy Corp VLO.N is joining Iowa-based Summit Carbon Solutions' proposed carbon-capture and storage project, the private company said on Monday.

Valero has agreed to transport greenhouse gases from eight of its ethanol plants on Summit's proposed pipeline, which will lead to the capture of 3.1 million metric tons of carbon dioxide (CO2) annually, Summit said.

Last month, the world's largest ethanol producer POET LLC also joined the multi-state pipeline project.

With the inclusion of Valero, Summit's project now extends to 57 ethanol production facilities across the upper Midwest.

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Already a major soybean, corn, and cotton grower, Brazil could expand its crop area by more than a third by converting overgrazed and overgrown pastureland, according to a research agency that is part of the Brazilian Ministry of Agriculture. Besides the potential addition of 70 million acres of cropland, Brazil could increase production by devoting more land to second-crop corn, said a team of U.S. university economists.

“The potential for Brazil to expand its agricultural output through converting degraded pastureland into cropland is large,” said the U.S. analysts, writing at the farmdoc daily blog. “With approximately 70 million acres identified as suitable for conversion, Brazil could increase its total planted area by 35% compared to the current crop season.”

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After repeated delays, House Agriculture chairman Glenn Thompson said on Tuesday that his committee, “without a doubt, will mark up a farm bill before Memorial Day.” Republicans on the Senate Agriculture Committee plan to release a farm bill framework soon after the House panel acts, but Senate Agriculture chairwoman Debbie Stabenow, a Democrat, cautioned, “We haven’t set an exact timeline” to move the bill.

Farm bill leaders said they were working earnestly to pass legislation this year — the new farm bill is six months overdue already — notwithstanding impasses on crop subsidies, climate funding, and SNAP cuts. “I see a path to do that,” said Stabenow. “We’ll move when I know we can get this done.”

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