If there is some baby crap yellow showing under that red paint then it's a Ferguson F40. It came from the factory as that yellow color and some were painted by their owners to the new MF red and some were painted at the dealers. My F40 is also one that was repainted at some point.
The opening in the front hood is the air intake for the engine. There was chrome frame with a screen placed in that opening that had the number 40 placed in the middle of it.
The F40 is pretty rare so you should have no problems selling those to someone who is restoring one.:trink40:
You can actually see the yellow on the backside of the nose piece. Painting over the yellow is easy to do on the back side of the hood as the painter just had to open up the hood. The nose piece is much harder unless you remove a whole bunch of stuff first and no one would see it where it was so he left it yellow there.
Looks like you have two colors or red over the yellow on the underside of the hood. The primer will be red under the yellow.