The new site will be converted from a former J.I. Case tractor factory that was shuttered in 2002.

Overall unit sales of U.S. combines climbed 10.6% compared to July 2022, while sales of tractors declined 5.2% in the same month in 2022, driven largely by softness in the smaller horsepower segment.

In its most recent update, Purdue University and CME Group's Ag Economy Barometer rose by 2 points to a reading of 123, primarily due to farmers' improved perception of current conditions. 

In August, the index fell from –7 point to –22 points, one of the sharpest declines in the history of the survey.

Founded in 2008 and headquartered in Norfolk, Neb., FieldWise specializes in providing agricultural producers and their service providers with innovative solutions. 

"We think limiting how much we increase it [pricing] is probably the right thing to do at this point,” says Scott Wine, CEO of CNH Industrial, in an article in Crain's Chicago Business.

The company reported diluted earnings per share up $4.21 year-over-year, which Valmont said was a record.

The company's net income was up 29% from the same period last year. Diluted EPS saw 30% year-over-year growth. Net sales of ag equipment grew by 4% year-over-year.