USDA is forecasting that the 2011 crop — 2011 production and 2012 demand — will result in a record 13.5 billion bushels of corn production, and a 23% increase in ending corn inventories, to 900 million bushels.
“In contrast to our expectations, the wet summer evidently had no material impact on Cervus’ financial performance in the third quarter,” says Ben Cherniavsky, analyst for the Canadian investment dealer, Raymond James.
While it saw overall revenues rise to $170.5 million in the third quarter of 2010 from $145.8 million a year earlier, net earnings by Rocky Mountain Dealerships (RME) slid to $3.8 million for the period vs. $4.9 million in the same quarter of 2009.
Chances are good that at least some Midwest farmers weren’t too surprised at USDA’s October 8 report that corn and soybean yields would probably come in quite a bit lower than anticipated just a month earlier.
With its third-quarter results, Art’s Way Manufacturing, the shortline manufacturer of specialized farm machinery, offered further results of the continuing strength of the ag equipment industry.
While overall revenue for the third quarter ended June 30 dropped to $55.9 million from $76.7 for the same period a year ago, Buhler Industries reported on August 6 that equipment sales improved by $2.1 million compared with the second quarter of 2010.
Based in Armstrong, Iowa, Art’s Way also operates wholly owned subsidiaries for the manufacture of pressurized tanks and modular animal confinement buildings.
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Precision ag pioneer Al Myers is a member of the Farm Equipment Shortline Legends Hall of Fame 2024 class. It’s been almost 35 years since the Ag Leader founder introduced the groundbreaking Yield Monitor 2000.