The Good & Bad News From MAGIE

As I write this column, I’ve just returned from the annual Midwest AG Industries (MAGIE) trade show in Bloomington, IL. Per usual, this event provided a great snapshot on the present and future state of the ag market.

On the plus side, attendance at MAGIE couldn’t have been better. With a pre-registration of more than 2,000, the show ended up drawing more than 2,500 visitors to the fairgrounds in Bloomington. And there was plenty of new ag retail-oriented equipment to see from exhibitors such as Case IH, GVM, New Leader and the like. Based upon these factors, things are looking up for agriculture.

Advertisement

Top Articles
TFI: Phosphate and Potash Are Critical Minerals, Senate Bill to Solidify

What best describes your customer's views on the ag market?

View Results

Loading ... Loading ...

However, there were some negatives as well. While at the show, word spread of several cutbacks in personnel at such agricultural-targeted companies such as Caterpillar and Raven Industries. In addition, several of the newest pieces of equipment at MAGIE 2015 were looking to mid to late 2016 for their release dates, including a new nutrient applicator from equipment heavyweight John Deere. Furthermore, several high profile agricultural companies such as Equipment Technologies (makers of the Apache sprayer) and Topcon were absent.

In general, the feeling I got from talking with folks at the show seemed to indicate that most companies are “riding out” the uncertainty surrounding 2015’s crop harvest and commodity prices, but looking forward to a better 2016. This was echoed in the comments from one visitor, whose father farms.

“My dad just sold his corn for $3.90 per bushel and his soybeans for $9 per bushel,” said the attendee. “At those prices, he told me he could show a profit for this year and start looking forward to the next.”

0
Advertisement