The ongoing pandemic is set to test the resilience of farms in 2020. Statistics Canada’s estimates of 2019 farm cash receipts (FCR) suggest a relatively positive year for agriculture. FCR increased in 2019 by $3.6 billion, or 5.7%.
Power transmission specialist Comer Industries is embarking on an ambitious growth plan that managers led by Fabio Storchi, president and CEO, expect to deliver significantly increased sales and improved profitability over the next 4 years.
With July weather being a critical factor in overall crop production trends, industry observers rated the report “mixed” or “neutral” for sales of farm equipment.
If falling grain prices weren't enough for U.S. agriculture to contend with, a strong dollar could further stunt any hope for growth in the year ahead for American farmers and equipment manufacturers.
On Feb. 11, USDA issued its initial 2013 estimates for farm net cash income and cash receipts and forecast a drop in net income of nearly 9%. The government economists also said that cash receipts will be slightly higher year-over-year.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.