With July weather being a critical factor in overall crop production trends, industry observers rated the report “mixed” or “neutral” for sales of farm equipment.
Despite the recent good news on the rising prices for soybeans and corn, overall USDA is projecting the lowest U.S. agricultural trade balance in more than a decade in 2016.
While no one is quite sure how big an impact the recent rise in soybean and corn prices will have on farm equipment sales, for the moment, things don’t appear to be getting any worse.
While the excessive backlog of used farm machinery has captured much attention for the past few years, high new ag equipment inventories are also posing major challenges for North American equipment dealers.
Demand for loans for ag equipment and other capital expenditures continued to decline in the first quarter of the year, the volume of large non-real estate farm loans continued to have a significant effect on changes in farm lending, according to the Federal Reserve Bank of Kansas City.
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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.