Events during the State Fair begin when Monsters of Destruction take over The Fairgrounds Arena on Thursday, Aug. 8, with an all-out monster truck thrill show, featuring truck battles. (Illinois State Fair Facebook photo)

In this week’s farm and rural news, Deere & Company is reporting a huge slide in profits on ag machinery and is planning to cut second-half production. In addition, we have info on free help for farmers wishing to cash in on the biofuel cover crop craze, along with 2024 Illinois State Fair events of interest to rural dwellers, and more.  

Deere trims outlook, shifts production plans  

MOLINE — Deere & Co. lowered its fiscal 2024 earnings outlook after sales declined by double digits for agricul

second quarter, AgricultureDive.com reported last week. Deere’s second quarter company equipment sales totaled $13.61 million, a 15 percent decline over last year as high interest rates, weather volatility and an oversupply of commodities weighed on customer purchase decisions for tractors, lawnmowers and other equipment around the world. To adjust, Deere will strategically underproduce machinery in the back half of the year. 

“We are proactively managing our production and inventory levels to adapt to demand changes and position the business for the future,” stated John C. May, Deere chairman and chief executive officer, in a company news release. “Despite market conditions, we are committed to our strategy and are actively investing in and deploying innovative technologies, products, and solutions to ensure our customers’ success.” 

Net income attributable to Deere & Company for fiscal 2024 is forecasted to be approximately $7 billion, which May said will be buoyed by nonagricultural machinery sales.  

“John Deere’s second-quarter results were noteworthy in light of continued changes across the global agricultural sector,” he said. “Thanks to the dedication and hard work of our team, we continue to demonstrate structurally higher performance levels across business cycles and are benefitting from stability in construction end markets amid declining agricultural and turf demand.”  

Deere shares fell nearly 5 percent after the earnings update on Thursday, May 16, according to AgricultureDive.com. 

 AFT offering help with perennial cash cover crops 

LEMONT — Free technical assistance consultation for farmers and landowners interested in boosting their farm resiliency and providing more economic opportunities by planting cash-producing cover crops is now available.  

American Farmland Trust and Argonne National Laboratory are exploring opportunities to transition marginal or unproductive land to grow perennial bioenergy crops such as switchgrass, native prairie mixes, and shrub willow. This project seeks to understand the economic opportunities of using marginal lands to grow perennial bioenergy crops while also boosting farm resiliency. The project will involve both community outreach and technical assistance to guide the adoption of these crops on farms in Illinois. 

Interested growers should reach out to Marlee Giacometti at mgiacometti@farmland.org or Ben Harbaugh at bharbaugh@farmland.org to request a free consultation. The program offers a custom five-year management plan for the adoption and utilization of a perennial bioenergy crop on a farm, with technical assistance provided by the Perennial Bioenergy Crop Diversification Project. (AFT news) 

Pulls, rodeo announced for State Fair 

SPRINGFIELD — Tractor pulls, a rodeo, monster trucks and a demolition derby are among the highlights scheduled for the recently remodeled Illinois State Fairgrounds Arena during the 2024 Illinois State Fair. The events begin when Monsters of Destruction take over The Arena Thursday, Aug. 8, with an all-out monster truck thrill show featuring exhilarating truck battles. A meet and greet is offered two hours before the event.  

On Saturday, Aug. 10, fairgoers will be treated to a full slate of rodeo events by Wooten Rodeo. Attendees will enjoy nine edge-of-your-seat activities including: Bareback, Saddle Bronc, Bull Riding, Tie Down Roping, Over-40 Tie Down Roping, Breakaway Roping, Team Roping, Steer Wrestling and Barrel Racing.  

In addition, the Illinois Tractor Pulling Association returns for three days of pulls on Monday, Tuesday and Wednesday, Aug. 12-14. Rounding out the outdoor events, the Demolition Derby will be held on Saturday, Aug. 17. Tickets and other information about the events can be found at https://statefair.illinois.gov/entertainment/arena.html.  

“The Arena is freshly remodeled with numerous enhancements following a $8.6 million investment, and we are excited to fill this outdoor space with a solid lineup of entertainment during the Illinois State Fair,” said Jerry Costello II, Director of the Illinois Department of Agriculture.  

The 2024 Illinois State Fair runs from August 8-18 on the Illinois State Fairgrounds in Springfield. 

 Ag activity, input by congressional districts published 

SPRINGFIELD — On May 16, the U.S. Department of Agriculture’s National Agricultural Statistics Service released the Congressional District Profiles and Rankings from the 2022 Census of Agriculture. The summary presents data by congressional district from the 118th Congress that includes land, farms, market value of agricultural products sold, rankings and producer characteristics.  

“Agriculture is a huge driving force in the overall Illinois economy and there is tremendous interest within each congressional district,” said Mark Schleusener, Illinois State Statistician, in a NASS Illinois news release. “After the redistricting, as a result of the 2020 population census, the 2022 Congressional District Profiles will not compare to the 2017 CD Profiles, so a new important baseline will be established with these estimates.” 

The information published is very detailed and difficult for the common agricultural scribe (speaking for myself!) to decipher. Luckily, USDA-NASS has scheduled a live chat to help unpack the findings. I’ll get back to you with a better take soon.  

Illinois Farm Fact:  

The cost of soybean seeds per acre in the United States has risen more than 260 percent since 1997, while total soybean production costs have risen 157 percent. (USDA Economic Research Service)