BofA-Machinery, E C and Waste Slides：Farmer sentiment channel check-tariff implications...-20250603

Please join us for a call with James Mintert, Director of Purdue University’s Center ofCommercial Agriculture, to discuss the most updated results (May) of the Ag EconomyBarometer. This conference call will be held at 11am ET. The Ag Economy Barometer isa reading of farmer sentiment within the US. US farmer sentiment improved post-election. We expect a lively discussion around farmer sentiment following tariffheadlines, some retreat in soft commodity prices, higher rates, constrained farmer netincome and implications for new equipment purchases. We look to May data to providefurther insights in order trends for 2026 at a critical time post-election. The call will behighly relevant for names across our farm Machinery coverage (Deere, CNH Industrial,AGCO).