January 2019 ag equipment sales were a tale of two countries. “U.S. growth of 3% was offset by an 11% decline in Canada,” Mircea (Mig) Dobre, RW Baird, said in his summary of ag equipment sales reported by the Assn. of Equipment Manufacturers.
U.S. farm equipment dealers are expecting 2014 retail sales of ag machinery to come in at about the same level as 2013 or slightly lower, according to UBS Equity Research’s most recent dealer survey.
On June 12, USDA issued its monthly World Agriculture Supply and Demand Estimates. While the agency lowered it 2013-14 forecast for corn ending stocks by 3%, it remained 7% above industry consensus.
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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.