During a call with Ag Equipment Intelligence regarding the current market situation in Brazil, the Brazilian Assn. of Machines and Equipment (Abimaq) blamed the lack of subsidized credit for the drop off in sales of farm tractors and combines in the past 2 months. In the beginning of 2019, the association forecast a 10% increase in total machinery sales.
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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.