Farm equipment makers lower earnings
AGCO and CNH both announced steep first quarter sales declines compared to last year.

Farm machinery makers AGCO and CNH reported steep first-quarter sales declines last week, reflecting the pressure of high input costs and global trade tensions on ag equipment demand. 

AGCO’s sales dropped 30% from last year to $2.1 billion, while CNH saw a 21% revenue dip to $3.8 billion. Both companies still beat earnings expectations,...