Farm Machinery’s Slump Lingers as Tariffs Add New Risks (1)

Farmers are still delaying equipment purchases as US President Donald Trump’s tariffs cloud demand for crops and risk further extending a years-long slump in the sector.

Top tractor makers CNH Industrial NV and AGCO Corp. each reported lower first-quarter sales Thursday, and pointed to the potential of reduced demand for farmers, which would give them less to spend on machines to plant, harvest and treat their fields.

Still, AGCO shares jumped as much as 13% Thursday, while CNH rose as much as 8.7%. Shares for each company have been lagging those of Deere & Co., the industry leader. Deere, ...