Combined U.S. and Canada large ag unit sales were down 3.1% year-over-year in March (down 7.9% in February). U.S. large ag equipment sales were down 3.4%.
An April 12 report from Reuters said China’s exports of steel products rose by 25.4% year-over-year in March to 9.89 million tons, the highest since July 2016.
The latest data from Statistics Canada on Canada’s agricultural implement manufacturing industry (NAICS 33311) reveals that 80.2% of all Canadian ag implement manufacturing exports went to the U.S. in 2022, up from 77.5% in 2021.
Each monthly issue of Ag Equipment Intelligence is like getting one-on-one personal advice from the world's most trusted ag equipment industry experts. Advice that hasn't been watered down or distorted by outside influence, providing the latest and most insightful farm equipment analysis. AEI explores where the ag equipment industry is going — not just where it's been. No filler. No bias. No conflict of interest. You can access the PDF issue archive by clicking here.
In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.