Wheat and corn prices tend to move in parallel, with cash and futures wheat prices historically being slightly above those for corn. However, when efforts to contain the outbreak of COVID-19 brought about widespread stay-at-home orders, this wheat and corn price series began to diverge significantly.
Compact tractors and 40-99 horsepower tractors sales exceeded expectations in May, while 100+ horsepower tractors, 4WD tractors and combine sales were below expectations.
Sales for under 40 horsepower tractors, 40-99 horsepower tractors and combines were below year-to-date forecasts, while 100+ horsepower tractors and 4WD tractors exceeded forecasts.
North Dakota State University Extension has released its 2020 short and long term agricultural planning price projections for North Dakota, says Ron Haugen, NDSU Extension farm economist.
The latest episode of On the Record is now available! Ag Equipment Intelligence editors were on hand for CNH Industrial’s announcement of its 5-year strategic plan, which includes spinning off its “On-Highway” business. Also in this episode, we review Titan Machinery’s 2Q results, provide updates on precision farming and New Holland from the Farm Progress Show, and review one analyst’s observation on corn prices.
The MFP is designed to aid producers dealing with the price impacts of trade disputes. It is not targeted at providing relief from wet spring weather, delayed planting, and prevent planting. As a result, payments will not necessarily be correlated with delayed and prevent planting.
At least one prognosticator is suggesting that “due to an unusual confluence of factors” the price of corn could double to $8 per bushel in the next few years. In the April 9, 2018, issue of Barron’s, Simon Constable says these factors include “declining output, an ethanol-led demand surge in China and likely brutal weather.” (Corn Prices as High as an Elephant’s Eye?)
According to a March 6 report from the U.S. Energy Information Administration (EIA), estimated ethanol production margins at U.S. corn ethanol plants averaged 22 cents per gallon in 2017.
In the latest episode, we take a look at how tractor and combine retail sales finished up in 2015, speculation on what corn prices may do this year, whether this El Niño event could be followed by drought, the top takeaways from the Precision Farming Dealer Summit and Buhler Industries' outlook for the year ahead.
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The announcement of a partnership between New Holland and Bluewhite was one of the big precision stories of the summer. West Coast New Holland dealers now have the rights to sell, distribute and service Bluewhite’s aftermarket autonomy kits.