While nearly half of U.S. corn acres were harvested as of Oct. 16, this year’s harvest is lagging both last year’s pace and the 5-year average. Meanwhile, the soybean harvest is only slightly behind the 5-year average, but significantly behind this date last year.
Supply and demand is alive and well in the U.S. agricultural economy. Harvest of U.S. crops has begun and brings with it a great expectation of a record yields. Like a huge seesaw, high demand for a commodity elevates the prices customers are willing to pay for that product and when there is an excess worldwide inventory, prices fall to meet the slowing demand.
While the Eastern Corn Belt and Great Lakes Regions have been home to the most strip-till farmers for years, the practice continues to grow within that region as well as steadily adding acres in the Western and Southern Plains states.
While the Eastern Corn Belt and Great Lakes Regions have been home to the most strip-till farmers for years, the practice continues to grow within that region as well as steadily adding acres in the Western and Southern Plains states.
As a group, more North American farm equipment dealers appear hopeful about their prospects for increasing revenues going into 2017 than they did going into 2016.
John Deere released its September retail sales comment on Oct. 12. The report compares Deere’s sales and inventory levels to the industry as a whole. For combines and 4WD tractors, Deere’s sales were down more than the industry, but it’s inventory levels for both categories were lower than the industry.
Wet weather in some of the major corn and soybean growing areas has slowed harvest of the crops so far this year. Through this past Sunday, 35% of the corn crop had been harvested. This compares with 38% last year on this date and the 5-year average of 38% of corn acres harvested.
Although a few more dealers say their early equipment orders are up compared to this time last year, overall, new farm machinery order books continue on a downward slide that began 3 years ago.
Greg Petras, president of Kuhn North America, says despite the current market challenges the company is continuing to invest in its facilities, people and products.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
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