AGCO Sees ‘Significant’ Buyer Interest in Grain, Protein Unit

AGCO Corp., one of the world’s biggest makers of farm machinery, said there’s outside interest from buyers for its business segment that includes grain storage and animal production as the company nears a conclusion on a strategic review for the unit.

AGCO and other tractor makers, including market leader Deere & Co., have been under pressure from declining agriculture income, which gives their farmer customers less to spend on new equipment. The smallest US cattle herd in decades was also limiting growth in the protein segment.

There’s a “significant amount of external interest on this,” AGCO Chief Financial ...