{
  "id": 3084504,
  "title": "New combines now list for $1 million as farm income drops 2.6% — forcing farmers to rely on 70s machines and scrap parts",
  "url": "https://urgent.news/2026/08/23/new-combines-now-list-for-1-million-as-farm-income-drops-2-6-forcing",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-23T10:00:00.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/economy/articles/combines-now-list-1-million-100000884.html"
  },
  "original_language": "en",
  "account": "The price of top-tier combine harvesters has soared to $1 million, which is more costly than many Americans' homes. Dennis Kellogg, a farmer in Michigan, still relies on his 1970s combine for soybean farming, opting to use it again this fall instead of spending farm income on a new machine. Jeff Bezos supports an investment platform that enables people to invest in rental properties for as little as $100, highlighting ways to build wealth without owning properties. Meanwhile, Social Security experts warn that nearly 50% of Americans may be making a significant mistake. Tax breaks in Trump's legislation expire in 2028, and farmers are urged to take action. Kellogg expressed concern over the drop in net farm income to $153.4 billion, a 2.6% decrease. The Bureau of Labor Statistics reported a record high of 331.1 for the producer price index of agricultural machinery in July, a 37% increase since January 2020. John Deere's top-end X9 combine is listed for as much as $1 million on TractorHouse, leading to reduced sales of combines and tractors. Kellogg cannot afford a new machine due to limited operating funds. He uses discarded trucks, pulleys, and tillage gear when needed. Engines from one manufacturer often fit another, and older machines can still perform the same tasks. Kientzy, an agriculture research analyst, explained that changes to machines stopped occurring around the mid-90s. Older machines can still be functional with modern add-ons, but these upgrades come at a cost. Edwards, a Kentucky farmer, mentioned that adding computer systems to his equipment would cost an additional $100,000, which he deems unnecessary. He employs in-house repairs, a cost-effective option in an industry where John Deere faced claims of locking farmers out of repairing their own machinery. While some operations reassess their machinery, others consider transitioning to used machines. Renting equipment can also be more cost-effective, with the median charge for combining corn at $45 per acre and soybeans at $42. For now, farmers like Kellogg are preserving money by maintaining and repairing their older equipment.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}