Most ag prognosticators agree that it would take a significant disruption to crop supplies to impact the prices of the major crops (corn, soybeans, wheat). With nearly all of the 2017 harvest in the bin, it’s readily apparent that this did not happen.
Deere & Co., best known for its dominance in farm equipment industry, made a big and unexpected move on June 1 when it announced it would be expanding the reach of its Construction & Forestry division by acquiring the German construction equipment maker Wirtgen Group. Most industry analysts covering the heavy equipment market agree that the acquisition represented a major strategic acquisition that will strengthen the company’s equipment operations on several fronts.
CNH Industrial expects replacement buying will give its ag business a boost next year. The company also reiterated that it’s not looking to off load its construction equipment segment any time soon.
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.
With few exceptions, global tractor and combine sales show little sign of picking up in the near term. While USDA’s May 10 report offered some optimistic news on crop surpluses, especially for soybeans, it remains to be seen whether or not the uptick in crop prices will hold.
Corn and soybean futures saw their strongest sessions in 5 years following yesterday’s USDA Planted Acreage and Grain Stocks reports. The reports showed that domestic stockpiles of both crops were lower than expected as was planted acreage.
In this episode of On the Record, brought to you by Associated Equipment Distributors, Marc Johnson, principal with Pinion, provides 4 factors that will be important for dealers to watch in 2025 that will impact their business.
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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