Compact tractors and 40-99 horsepower tractors sales exceeded expectations in May, while 100+ horsepower tractors, 4WD tractors and combine sales were below expectations.
All equipment retail sales exceeded monthly expectations or were nearly flat in the month of April. Higher horsepower tractors were the only exception, being 9.5% below the monthly forecast.
Sales for under 40 horsepower tractors, 40-99 horsepower tractors and combines were below year-to-date forecasts, while 100+ horsepower tractors and 4WD tractors exceeded forecasts.
North Dakota State University Extension has released its 2020 short and long term agricultural planning price projections for North Dakota, says Ron Haugen, NDSU Extension farm economist.
The MFP is designed to aid producers dealing with the price impacts of trade disputes. It is not targeted at providing relief from wet spring weather, delayed planting, and prevent planting. As a result, payments will not necessarily be correlated with delayed and prevent planting.
The number of bankers reporting third quarter declines was larger than 3 months ago and they expect farm income and expenditures to decline again in the fourth quarter.
The U.S. corn crop, at 91% emerged, is off to a start that remains behind last year’s crop (97%) and the average pace over the last five years (96%), according to the June 13 report coming from the USDA.
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.