July WASDE Called ‘Neutral’ for Farm Machinery Sales

USDA updated its World Agricultural Supply and Demand Estimates for the 2016-17 crop season on July 12. With July weather being a critical factor in overall crop production trends, industry observers rated the report “mixed” or “neutral” for sales of farm equipment.

In a note, C. Schon Williams, analyst with BB&T Capital Markets, reported, “Cash receipts are forecast to be down 0.4% year-over-year, which is a slight improvement vs. our June estimate (–1.1%). With the…

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