Farm lending remained muted in the third quarter of 2020 but increased from last year according to the National Survey of Terms of Lending to Farmers. Despite growing 15% from the previous year, total non-real estate loan volumes in the third quarter were below the 20 year trend for that period.
The October 2020 edition of the Federal Reserve Bank’s Beige Book reports that economic activity continued to increase across all Districts, with the pace of growth characterized as slight to modest in most Districts.
The Federal Reserve Bank notes in its August 2020 Beige Book that economic activity increased among most Districts, but gains were generally modest and activity remained well below levels prior to the COVID-19 pandemic.
Cervus Equipment, John Deere’s largest ag equipment dealership group in Canada, posted strong results for the first quarter of 2020 ended March 31. The company reported new equipment revenue increased 21% in the first quarter of 2020 compared to the same quarter of 2019.
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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.