AGCO, the maker of Massey Ferguson, Fendt and Valtra farm machinery, saw its third quarter profits fall in the face of challenging farming conditions in the US and South America, as well as significant uncertainty in the global trade arena.

On Tuesday, AGCO announced third quarter pre-tax profits of $79m (€71m), which was down 8% year on year. Operating profits for AGCO were back 5% year on year to $106m (€95m), while operating profit margins held steady at 5%.