Used tractor sales bad for Deere as farmers pinch pennies
Deep in the heart of the U.S. grain belt, farm-equipment auctions are attracting bidders from as far away as South Africa as the agriculture rout makes used machinery more attractive. As farmers move away from buying new tractors and combines, it could mean more pain for Deere & Co., the world’s biggest agricultural equipment manufacturer, which is already struggling through an industrywide glut. To understand why, look no further than Matt Maring, owner of an eponymous Kenyon, Minn.-based auction operation. [node:read-more:link]