A lot of equipment is moving through the lot of Reynolds Farm Equipment in Lebanon. Staff photo by Kassie Ritman
Sunday evening the Federal Reserve dropped lending rates to banks to a level near zero as an economic safety net. Monday morning, The Lebanon Reporter surveyed local banks to see what, if any, reaction they predict from their customer base.
Although no personnel of the four local bank branches we interviewed would speak on record without going through their official spokespersons, most said the same thing: “That cut hasn’t affected us one way or another. Maybe it’s just too early to say.”
A quick trip to Reynolds Farm Equipment showed where the real heartbeat of the community lies. The parking lot was packed at 9:30 a.m. and a huge semi was wriggling its way back to the dock to deliver skids full of machinery parts
Inside, the conversation was brisk and the crowd was genial. When asked about the big interest rate drop, several rolled their eyes, while others chimed in “that won’t trickle down here for a while.” Here’s what it helped,” offered customer Derrin Foster as he flashed the screen of his smartphone. “The market’s already down 2500 points.”
Shortly after this, a measure to stop a market free-fall was called. The “limit-down” rule acts to curb panic selling for volatile trading that is falling too quickly.
Store Manager Eric Biesecker said, “Last year was a lot scarier. No one could get into their fields with all the rain. So that meant they weren’t using their equipment or needing parts.”
If sheer numbers of Boone County farmers gathered together in one place is a good indicator, then that’s exactly what was happening amongst the millions in John Deere inventory on Indianapolis Avenue Monday morning. Though social distancing is the norm (most of these guys don’t usually tend to be big on hugs) most were way more concerned with talking business and getting parts picked up or on-order than shooting the breeze about COVID-19.
Everyone is anxious to get fields turned and to start moving forward with 2020’s growing season. Last year’s yields were disappointing to say the least. All are hoping for better when harvest time comes in a few months.
Biesecker said business continues to be good. In addition to parts, lots of machinery is on order and being delivered, even to neighboring states. Many farms have already placed orders, while a few who need a new piece or two are waiting on the proverbial fence to see how the next few weeks pan out.
Regardless of what’s going on in the world, there are certain things that still have to keep going, agreed a group of those gathered to chat. Emergency services, healthcare workers, and basic services like electricity and drinking water have to be maintained.
Biesecker summed it up best saying, “Whatever it is that’s happening, farmers aren’t going to stop.”
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