USDA Outlook ‘Bearish’ for Machine Sales

Most analysts agree that USDA’s May 10 World Agricultural Supply and Demand Estimates could be a headwind for farm equipment sales in 2013. The biggest hit came in USDA’s estimates for corn ending inventories, which were raised by 164% from the year prior. The ag agency also raised ending inventories for soybeans by 13%. Wheat inventories remained in line with the previous forecast.

With its most recent outlook, USDA dropped its price estimates for all…

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