This morning, the USDA issued its monthly update to the supply and demand outlook for the 2010-11 crop year, as well as its monthly crop production report, both of which analysts called “bullish for commodity prices” and near-term farm equipment sales.
Source: Bruce Blythe, Business Editor, Vance Publishing
U.S. corn supplies later this year will be about 6.5% smaller than previously forecast amid strong export and ethanol demand and a disappointing harvest last year, analysts say.
For the period April to December 2010, total cumulative sales (domestic + exports) stood at 154,265 units, as compared to 127,670 units for the corresponding period last year, an increase of 21%.
Farm equipment manufacturers are rolling out cleaner tractors to meet stricter new federal air regulations, but many in the industry say the challenge will be getting farmers to put the high-priced models into fields during hard economic times.
Titan Machinery Inc. announced today that it has closed on the previously announced acquisition of certain assets of Fairbanks International Inc. and its affiliates.
Source: Bruce Blythe, Business Editor, Drovers Cattle Network
High crop prices and tight global grain supplies fuel a bullish outlook for the agricultural economy next year, signaling a windfall for makers of farm equipment, fertilizer and animal feed.
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