By: NATHAN STUEDLE
Federal regulators are taking a closer look at competition in agricultural equipment markets. USDA and the Federal Trade Commission have launched a joint public inquiry into possible anticompetitive practices involving farm machinery sales and repair services. The agencies say the effort follows complaints from farmers about barriers to purchasing equipment and obtaining repairs. Regulators are seeking information on whether manufacturers or dealers are restricting competition and how those practices may affect producers, independent repair shops and rural communities.
The announcement pressured equipment-company stocks, with shares of Deere, CNH Industrial and AGCO all falling around five percent or more. USDA is also expanding cooperation with the Justice Department to examine competition in seed markets. That investigation will focus on seed pricing, licensing and other business practices as producers continue to face higher seed costs.