Sounds like a very insignificant drop.....
There's no other nation for the farmers to sell to instead of China?
Should we be feeding China, who is bent on crushing us?
War is hell. It is going to have an impact. It doesn’t mean we just surrender.
Farmers are feeling rising frustration as the trade war drags on...
I wonder where China gets its soy from these days.
POTUS just upped the tariffs 25% on the PRC last week and pledged a substantial portion would be used to buy from American farmers.
Give it a little time.
Interesting that they used a picture of riding mowers rather than a million dollar gps guided monster which is what soybean farmers would be using.
John Deere makes more products for the homeowner than the farmer these days so I don’t see how JD’s sales numbers can be a bellwether anymore.
Are their riding mowers made in the USA?
I wanted to make an “in before farmer bashing starts, post” but that could never happen unless I posted the thread myself.
“Deere is considered a bellwether for the agricultural industry.”
They also use software that is hard to hack, making any repairs extremely expensive and tiresome getting equipment to ‘authorized dealers’ when things could be fixed right here on the farm with some spit and bailer twine! ;)
But, seriously, it is a HUGE issue for farmers around here.
FYI - New Holland / Case makes a lot of tractors in Turkey that they sell here.
John Deere is feeling the effects of being at the end of massive, global 10 year debt-issuing spree.
Fake news.
We have a friend, who sells competitive John Deere products.
He thanks JD everyday because you apparently can’t do simple repair jobs/maintenance with expensive and technical gear on the JD products.
Deere’s HQ is here.
But they make stuff all over the world.
And import it to the US.
What about the other players in the market? Are they all down? Did Mahindra post a loss, or Case-IH?
Yep. Deere only made $1.135 billion in the 2nd quarter.
In 2016 1st quarter income was $254 million and 2nd quarter was $495 million.
No trade war in 2016. We had surrendered.
Maybe they should go back to manufacturing in India again. Mahindra will OEM for J.D. as they used to before J.D. thought it was more profitable in China.
It’s not tariffs, corn prices are down from $7.48 to $3.53 from 2010 to 2014. soybeans $14 in 2008, around $9 now, the same that they were in 2015. Last year was bad for yields in much of the midwest, along with low prices. Just for info there were no tariffs in 2014 or 2015, soybeans are the same price as 2015. I am the son of a cattleman, lived my whole life in farm country, while prices are dropping, cash rents for farm ground has increased and value of land has gone from an average of $2500 to $3500 an acre. You do the math.
When prices of grain were high, lots of locals talking about how the farmers would get rich, my reply was, no they’ll buy land and rent land at a higher price to insure that they make nothing