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