EXHIBIT 24.0

                               POWER OF ATTORNEY

         Know all men by these presents, that each person whose signature
appears below, hereby constitutes and appoints Andrew H. Beck and Stephen D.
Lupton his true and lawful attorneys-in-fact and agents, with full power of
substitution and resubstitution, for him and his name, place and stead, in any
and all capacities, to sign the annual report on Form 10-K of AGCO Corporation
for the fiscal year ended December 31, 2002 and any or all amendments or
supplements thereto, and to file the same with all exhibits thereto and other
documents in connection therewith, with the Securities and Exchange Commission,
granting unto said attorneys-in-fact and agents full power and authority to do
and perform each and every act and thing necessary or appropriate to be done
with respect to the Form 10-K or any amendments or supplements thereto in and
about the premises, as fully to all intents and purposes as he might or could
do in person, hereby ratifying and confirming all that said attorneys-in-fact
and agents or his substitute or substitutes, may lawfully do or cause to be
done by virtue hereof.


Date: March 7, 2003
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      /s/  W. Wayne Booker                         /s/  Curtis E. Moll
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           W. Wayne Booker                              Curtis E. Moll


      /s/  David E. Momot                          /s/  Henry J. Claycamp
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           David E. Momot                               Henry J. Claycamp


      /s/  Wolfgang Deml                           /s/  Wolfgang Sauer
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           Wolfgang Deml                                Wolfgang Sauer


      /s/  Gerald B. Johanneson                    /s/  Anthony D. Loehnis
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           Gerald B. Johanneson                         Anthony D. Loehnis


      /s/  Hendrikus Visser
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           Hendrikus Visser