December Farm Equipment 'News IQ' Quiz — Check out the correct answers

Thank you to those who completed last week's Farm Equipment News IQ Quiz!

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Vol. 1 No. 16 • December 24, 2024 The Results Are In... Thank you to those who completed last week's Farm Equipment News IQ Quiz! The average score was 3 out of 7. The top scorers were entered into a drawing for a chance to win a $25 Visa gift card. Congratulations to Alex Lush from Connect Equipment for being the lucky winner! See below for a full list of the questions, correct answers and links to each of the articles the questions originated from. This month's Farm Equipment News IQ Quiz is brought to you courtesy of Basic Software Systems. Click here to learn how Basic Software Systems can boost your dealership’s efficiency with a management system for seamless remote connectivity and operations. To ensure you have access to all the articles referenced in future News IQ Quizzes, subscribe to the Farm Equipment Daily and Weekly eNewsletters. Farm Equipment News IQ Quiz Answer Key — December 24, 2024 Farm Equipment has been featuring results from its Dealer Business Outlook & Trends Report, identifying what dealers are forecasting for 2025. Which of the following was not considered a factor in the ag market for 2025? Interest rates Commodity prices Crop yields - Correct Answer Service tech availability To learn more, visit Dealers Forecast Aftermarket Revenue Growth, Equipment Revenue Declines & Flat Capital Spending Last week, the USDA released its World Agriculture Supply and Demand Estimates (WASDE)  report. How did analysts respond? Viewed it as largely positive news - Correct Answer Responded with negative reaction Decided to wait for end of year analysis to comment Find out more here December WASDE Report ‘Positive for U.S. Farmers' CNH announced major global leadership changes on Dec. 16. Who was named President, North America?  Scott Harris - Correct Answer Ryan Schaeffer Markus Müller John May Read more here CNH Names Scott Harris President, North America in Major Global Leadership Team Change 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? American Farm Bureau Federation European Agricultural Machinery Assn. - Correct Answer Farm Equipment Manufacturers Assn.  The Nature Conservancy For more information visit AEM and CEMA Strengthen Cooperation on Advocacy and Regulatory Efforts for the Ag Equipment Industry 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? 41% 19% 70% - Correct Answer Learn more here Precision Technology Usage Higher on Large-Scale Family Farms 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? $150,000 - Correct Answer $75,000 $300,000 $250,000 Read UPDATED: Fed Cuts Interest Rates by Another Quarter Point 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? $162 per acre - Correct Answer $58 per acre $106 per acre $213 per acre Read more at Auction Prices Tick Up in November The Farm Equipment News IQ Quiz is brought to you with the support of 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.   This message is being delivered to members of the Farm Equipment community. If you no longer wish to receive these updates, you can click here to update your email preferences.   Farm Equipment • 16655 W. Wisconsin Ave., Brookfield, WI, 53005