Tractor Maker CNH Says It’s Getting Difficult to Raise Prices

One of the world’s largest tractor makers says it’s getting harder to pass on price increases to customers, in a sign of tightening conditions for farmers.

Many farmers have been upgrading machines in the wake of Russia’s invasion of Ukraine in 2022 that disrupted grain exports and sent wheat prices to a record. But with harvests and prices normalizing while interest rates rise, farm profits are easing.