Ag Technology And Machinery News: Rantizo Links With John Deere, AGCO and Case IH Sales Down

AGCO sales plummet 15%, $199 million in second quarter losses reported

AGCO achieved net sales of $3.2 billion for the second quarter ended June 30, a decrease of 15% compared to the second quarter of 2023. That equated to net losses of $4.92 per share, totaling $199 million.

That calculation includes the companies’ estimated loss on its Grain & Protein business being held for sale, which AGCO has stated could total $450 million when all is said and done. That transaction is expected to close by the end of 2024.

AGCO CEO and President Eric Hansotia noted the companies’ ongoing farmer first strategy shift while acknowledging its second half results were influenced by low commodity prices and depressed demand for new equipment, as well as significant workforce cutbacks.

He also stated his belief that “going forward, (AGCO) will be better positioned for long-term growth.”

Review the full Q2 report on AGCO’s website here.

CNH Industrial reports 38% total net income reduction year-over-year, ag sales down 20%

CNH Industrial reported its 2024 second half results on July 31, sharing that the global conglomerate realized a 16% reduction in consolidated revenues across its wide breadth of business units. Net profits were also down 19% compared to Q2 2023.

Specific to its agriculture business, CNH Industrial reported that “agriculture net sales decreased for the quarter by 20% to $3.91 billion, primarily due to lower shipment volumes on decreased industry demand and dealer inventory requirements across all regions, partially offset by favorable price realization.”

You can review CNH’s full Q2 2024 financial results report here.

AgLaunch365 tech pilot program taking applications through August 5

AgLaunch is accepting applications from ag tech startups for its AgLaunch365 accelerator and farm trial program. The opportunity is open to entrepreneurs in row crop, livestock, and specialty crops. Applications are due by August 5.

AgLaunch365 offers business development services with on-farm trials and mentorship from agricultural experts. Startups accepted into the program gain access to a national network of innovative farmers and peer support. Starting January 2025, the program includes six weeks of business coaching, mentorship, and farm trials over a two-year period.

Head over to the AgLaunch365 homepage to apply and find more information.

Kinze reducing workforce due to down ag market

Kinze will be implementing a reduction in its workforce in response to the ongoing economic downturn in the agricultural sector.

The reduction affects 193 of Kinze’s 815 employees in Williamsburg, Iowa. No other reductions are planned at this time.

“We deeply regret the necessity of this action,” said Susanne Veatch, president, Kinze. “This decision was not made lightly, and it is a direct response to current ag market realities.”

Heinen Brothers and Kelly Hills Unmanned announce ag drone testing corridor, August open house near Kansas City

Heinen Brothers Agra Services, a provider of aerial application services throughout the Midwest, and its subsidiary Kelly Hills Unmanned Systems have gained FAA approval for an ag drone test range spanning four states and 49,000 square miles. The group is hosting a grand opening field day on August 22.

FAA approved the unmanned aerial systems test range covering partial airspace in Kansas, Missouri, Iowa and Nebraska. The range provides the ability to host fixed-wing, multirotor, and rotary-wing systems testing applications on ten different crops including corn, soybeans and milo.

“This test range has the potential to drive innovation, improve the safety of pilots, and change the economic dynamics for the American farmer,” says Lukas Koch, Kelly Hills CEO. “Our goal is to become the epicenter for unmanned aerial systems in the agricultural space and we seek relationships with those who want to utilize our test range.”

On Thursday, August 22, Kelly Hills will host a grand opening and field day. Customers, vendors, researchers, policy makers, agriculture industry leaders, enthusiasts, and all other key individuals are invited to Kelly Hills Unmanned Systems; 1226 104th Road, Seneca, Kansas.

For more information and to register to attend the grand opening, head to kellyhills.us.

New Holland announces new VP of North America, CNH Chief Technology Officer

CNH has appointed Ryan Schaefer to the role of Vice President for New Holland Agriculture North America, and Jay Schroeder will serve as CNH’s new Chief Technology Officer. Both appointments are effective immediately.

New Holland says Schaefer’s 20 years of experience in the agricultural equipment industry will provide a strong track record of performance. Schroeder has over 30 years of experience with CNH.

“The opportunity to lead New Holland in North America is an exciting chance to accelerate the growth of our brand’s full line of products, including cash crop, dairy, livestock, specialty, compact tractors and digital farm management solutions,” said Schaefer.

Head over to AgriMarketing to read to the full breakdown of CNH’s executive management changes.

Rantizo links AcreConnect with John Deere Operations Center

Rantizo’s AcreConnect software is now connected with the John Deere Operations Center.

The new API allows operators to share ‘As Covered’ and ‘As Applied’ Maps directly with customers that use the John Deere Operations Center. This ensures that spray records are included with other application information and field data.

“Connecting AcreConnect to the John Deere Operations Center supports our promise to deliver better service,” said Jeff Holman, chief product technology officer, Rantizo. “Both independent operators and those at retail locations now have the ability to share application data directly to a grower’s account.”

Go here learn more about the AcreConnect-Operations Center API.