8-13-2024 |  Biweekly eNewsletter

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AGCO maintains an open dialogue with all stockholders and welcomes constructive input toward the shared goal of maximizing stockholder value. The Board of Directors is committed to acting in the best interests of all AGCO stockholders and will continue to take actions to deliver returns on their behalf. To that end, AGCO regularly engages with TAFE, whose Chairman and Managing Director, Mallika Srinivasan, serves as a non-independent director of AGCO.

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Another round of layoffs is hitting Iowa's faltering agricultural industry sector as Kinze Manufacturing of Williamsburg announced it would idle 193 employees, effective Thursday.

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AGCO achieved net sales of $3.2 billion for the second quarter ended June 30, a decrease of 15% compared to the second quarter of 2023. That equated to net losses of $4.92 per share, totaling $199 million.

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Caterpillar told analysts that its adjusted operating profit and adjusted profit per share set records for its second quarter, despite sales declines compared to the same period a year ago. The adjustment covers losses on the divestiture of two “non-U.S. entities,” leaving operating profit at $3.7 billion and profit per share at $5.99 for the quarter. Both were stronger than expected. Caterpillar said operating profit margin of 20.9% offset the decline in second-quarter sales.

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Dubbed “the original skid steer implement,” Werk-Brau has introduced its own landscape rake attachment, designed to remove rocks, level ground before sod application, or prepare seedbeds.

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Today, USDA released the August World Agricultural Supply and Demand Estimates (WASDE) report.

2024/2025 U.S. Crop Production
USDA made several tweaks to the 2024/2025 corn, soybeans, and wheat crops. The average trade expectation for corn and soybean yield was 182.1 bushels per acre and 52.5 bushels per acre, respectively. The average trade expectation for corn production was 15.103 billion bushels. For soybeans, the average trade expectation was 4.469 billion bushels.

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As news of large layoffs at ag equipment manufacturers make headlines and auction prices continue to soar, producers are hesitant to invest in new machinery. But is the current situation actually a good time to buy? On the latest Unscripted podcast, host Tyne Morgan brings in Greg Peterson (AKA Machinery Pete) to help unravel what’s happening.

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Reuters' Leah Douglas reported Wednesday that "the U.S. Environmental Protection Agency has launched investigations into the supply chains of at least two renewable fuel producers amid industry concerns that some may be using fraudulent feedstocks for biodiesel to secure lucrative government subsidies."

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