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Political Uncertainty Hurting Farm Spending Says AGCO CEO

Shares of AGCO are up 6 percent this year despite a continued slump in commodity prices and increasingly pessimistic farmers.

Shares of AGCO (AGCO) - Get AGCO Corporation Report are up 6% thus far in 2016 despite a continued slump in commodity prices and increasingly pessimistic farmers. AGCO CEO Martin Richenhagen said the resilience of the agricultural equipment-maker is a testament to the company's ability to plan ahead. 'We are being rewarded a little for very quickly and efficiently addressing the cyclicality of our business and the recent downturn,' said Richenhagen. 'We did our homework early and that proved we manage the company pretty well which helped us.' Richenhagen said farmer incomes are generally more solid than one might think considering the commodity price slump due to better-than-expected harvests.

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