Click here if you'd like to take the December 2024 News IQ quiz 2 before viewing the answers below.


Q: Farm Equipment has been featuring results from its Dealer Business Outlook & Trends Report, identifying what dealers are forecasting for 2025. Which of the following factors was not considered a troubling factor heading into 2025?

A: Crop yields


Q: Last week, the USDA released its World Agriculture Supply and Demand Estimates (WASDE)  report. How did analysts respond?

A: Viewed it as largely positive news


Q: CNH announced major global leadership changes on Dec. 16. Who was named President, North America? 

A: Scott Harris


Q: With what organization did the Assn. of Equipment Manufacturers (AEM) sign a Memorandum of Understanding (MoU) to enhance advocacy efforts for the ag equipment industry?

A: European Agricultural Machinery Assn.


Q: The USDA Economic Research Service (ERS) recently shared data on use of precision agriculture technologies among small, midsize and large family farms. What percentage of large family crop-producing farms used guidance autosteering systems on tractors, harvesters and other equipment in 2023?

A: 70%


Q: Factoring in the 3 cuts the Federal Reserve has made since September, how much could a dealer expect to benefit on a floorplan debt of $30 million?

A: $150,000


Q: According to data from the Univ. of Illinois Department of Agriculture and Consumer Economics, machinery costs on corn acres increased from $44 per acre in 2003 to what price per acre in 2023?

A: $162 per acre



Farm Equipment News IQ is brought to you by Basic Software Systems.

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Basic Software Systems was established in 1979. The concept of Basic Software Systems derived from a vision of serving a large industry that was expanding rapidly yet lacking computerization. A local Ford Tractor dealership invited us to write a Dealership Management System Solution customized for their specific needs. The newly integrated features of the software brought about a complete transformation for the dealership.

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