For the 13th month, the Creighton University Rural Mainstreet Index (RMI) remained above growth neutral, according to its December survey of bank CEOs in rural areas.

“Farmers have disposable income, so they have money to spend it on and the tax laws really, really favor purchasing equipment,” Gary Schnitkey, a professor of farm management at the University of Illinois said. “Manufacturers are having difficulty keeping up with the demand.”

John Deere/Hagie units continue to be the most common in CropLife 100 applicator fleets, holding a 34% market share. This represented a 1% gain vs. the 2020 percentage for the company.

The author, Gary Schilling, cited Deere & Co., and its plans to accelerate production off the heels of the just-concluded 5-week strike, to meet robust demand and rebuild inventories (see Assn. of Equipment Manufacturers bullish report on December 10, 2021).

Growth in both ag tractors and combine harvesters continues in the U.S., while a slowdown in harvesters in Canada brings overall unit sales slightly below 2020 north of the border, according to the latest data from the Assn. of Equipment Manufacturers (AEM).