LUBBOCK, Texas (RFD News) — Agribusiness earnings are showing a divided farm economy, with machinery demand still weak while crop inputs remain comparatively resilient. Deere says 2026 could mark the bottom of the equipment cycle, reflecting continued caution toward large capital purchases.
Nutrien reported record first-half potash sales volumes and stronger nitrogen earnings while expecting firm crop prices and yield protection to support North American crop-input demand into fall.
Corteva reported that farmers continue to prioritize genetics and crop-protection technologies that improve productivity despite tight margins. First-half sales increased 4%, while management raised its full-year earnings outlook following continued demand for newer products.
Livestock processing is moving differently. Tyson continues to face heavy beef losses as historically tight cattle supplies reduce plant utilization and pressure packing margins, even while cattle values remain strong.
Together, the results suggest farmers are delaying discretionary machinery purchases while continuing to spend on inputs needed to protect yield and production.
