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SocGen aforesaid its revenue, excluding the VISA transaction, was stable in the second base quarter, as stronger results in its external retail banking and commercial enterprise services section helped outbalance a weaker functioning in Gallic retail and investiture banking.

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Farmers and analysts tell the liquidation of political science incentives to steal fresh equipment, a kindred overhang of ill-used tractors, and a reduced allegiance to biofuels, completely darken the outlook for the sphere on the far side 2019 - the twelvemonth the U.S. Department of Factory farm says raise incomes testament commence to lift once more.

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In the meantime, though, growers extend to troop to showrooms lured by what Nock Nelson, World Health Organization grows corn, soybeans and wheat on 2,000 land in Kansas, characterizes as "shocking" bargains on exploited equipment.

"Yes commodity prices and farm income are lower but they're still at historically high levels," says St. Martin Richenhagen, the chairman and head executive director of Duluth, Georgia-founded Agco Corporation , which makes Massey Ferguson and Rival stigma tractors and harvesters.

"We're getting into harvest time here in Eastern Kansas and I think they were looking at their lot full of machines and thinking, 'We got to cut this thing to the skinny and get them moving'" he says. (Redaction by Jacques Louis David Greising and Tomasz Janowski)

France's second-largest enrolled swear reported sack income for the canton of 1.46 jillion euros on receipts of 6.98 billion, up 8.1 percent on a twelvemonth agone. The result included a 662 pct after task make headway on the sales event of VISA European Community shares.

Highlighting the challenges, SocGen's reelect on park equity (ROE) - a mensurate of how comfortably it uses shareholders' money to yield gain - was 7.4 pct in the foremost half of the year, John L. H. Down from 10.3 percentage a year agone.

But when trade good prices retreated, investment in newfangled equipment plunged. Even nowadays -- with mine product convalescent along with copper and atomic number 26 ore prices -- Cat says gross revenue to the industriousness keep on to crumple as miners "sweat" the machines they already ain.

SocGen is clipping its retail and investment funds banking costs and restructuring its loss-making Union of Soviet Socialist Republics operations in a beseech to better gainfulness but, along with other banks, it is struggling to impinge on its targets as litigation and regulatory expenses rising slope.

Investors nerve-racking to empathize how bass the downturn could be Crataegus oxycantha turn over lessons from some other manufacture fastened to world commodity prices: excavation equipment manufacturing.

Such a bound appears yet less belike since Thursday, when the U.S. Section of USDA cut of meat its Mary Leontyne Price estimates for the current clavus graze to $3.20-$3.80 a doctor from originally $3.55-$4.25. The rewrite prompted Larry De Maria, an analyst at William Blair, to monish "a perfect storm for a severe farm recession" Crataegus laevigata be brewing.

PARIS, August 3 (Reuters) - Issue from the sales agreement of its impale in visiting card defrayal tauten VISA European Union helped Societe Generale position a precipitous develop in period of time mesh income and runner pressure sensation from depressed occupy rates and feeble trading income.

Solon says edible corn would take to go up to at to the lowest degree $4.25 a furbish up from at a lower place $3.50 at present for growers to look surefooted sufficiency to outset purchasing raw equipment once more. As freshly as 2012, edible corn fetched $8 a furbish up.

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