The general Business Climate Index for the Agricultural Machinery Industry in Europe has risen to a record high after having reached the positive range in October for the first time since mid-2019. In March 2021, the index is at +60 points (on a scale of -100 to +100).
According to recent surveys, both farmers and dealers are leaning toward getting the COVID-19 vaccine once it’s available, though only by a slight majority.
While 2020 will be remembered for its many dramas — including a global pandemic, a historic derecho, uncertainties in the commodities markets and a highly contested presidential election — no-tillers actually seem to have fared relatively well.
Real gross domestic product (GDP) increased at an annual rate of 4.1% in the fourth quarter of 2020, according to the "second" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 33.4%.
U.S. agricultural exports in fiscal year 2021 are expected to increase to $152 billion, up 12% from the previous year, and nearing the record set in 2014.
Surveyed bankers indicated farm machinery and grain storage construction loan volumes were anticipated to increase, while the volume for operating loans was anticipated to be flat.
Prospects for farm income and agricultural credit conditions rebounded sharply in the fourth quarter of 2020. The average price of corn, soybeans and wheat increased more than 20% from the previous quarter, and reached six year highs in December.
Coming on the heels of a mild upturn in the third quarter of 2020, farmers and ranchers in the Ninth District saw dramatic improvement in the final three months to close out the year, according to the latest survey of agricultural lenders from the Federal Reserve Bank of Minneapolis.
Dealers report used equipment pricing improved during the fourth quarter of 2020. Results from Stifel’s fourth quarter dealer survey show used combine pricing improved 1.8% year-over-year on a weighted average basis in the fourth quarter of 2020.
According to a report from the European Agricultural Machinery Assn., the general Business Climate Index for the Agricultural Machinery Industry in Europe has risen to a clear boom level after having reached the positive range in October for the first time since mid-2019.
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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.