According to the 14th Annual No-Till Operational Benchmark Study, published by No-Till Farmer, growers spent a record high on machinery related expenses in 2021 compared to the previous 6 years, based on 480 responses from growers in the U.S. and Canada.
Farmer sentiment continues to fluctuate month-to-month as the Purdue University/CME Group Ag Economy Barometer rose 6 points to a reading of 125 in February, a mirror image of the previous month.
The general Business Climate Index for the Agricultural Machinery Industry in Europe remains at a high level, without any significant changes over the last 3 months, according to an update from the European Agricultural Machinery Assn.
Instead of tilling or plowing the soil, no-till involves seeding through the prior crop’s standing residue. Weed control is accomplished primarily through herbicides.
According to the results of the latest Ag Economy Barometer, over 40% of surveyed farmers reported "low farm machinery inventories were holding back their purchase plans."
The Creighton University Rural Mainstreet Index (RMI) declined in January, though it remained above growth neutral for the 14th straight month, according to the Jan. 20, 2022, release of the monthly survey of bank CEOs in a 10-state rural area.
The general Business Climate Index for the Agricultural Machinery Industry in Europe has further stabilized at high levels after several months of slight downward correction since its record peak in May and June (where it reached its highest level since 2008).
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.