USDA Report a ‘Positive Read’ for Farm Equipment; Not So for Food

USDA’s October World Agriculture Supply and Demand Estimates report was good news for ag machinery dealers, especially those in the grain regions of North America. It may not be the best news for those where dairy and livestock dominate.

Calling the news a “positive read” for ag machinery, Ann Duignan, analyst for JP Morgan told investors in a note, “Our model suggests that cash receipts from major crops will be $118.4 billion in the 2010-11…

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