North American ag equipment sales were up 1% year-over-year in May following 17% growth in April and flat growth in March. U.S. sales increased were up 5% year-over-year (combines down 13%, 4WD tractors up 2%, row crop tractors up 9%).
AGCO Corp. cited "EPA compliance and diminishing volumes resulting in an ever-changing industry landscape" when it announced it would discontinue production of its SpraCoupe compact, self-propelled sprayers for the North American market in 2013.
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In this week's episode we take a look at the latest Dealer Sentiments & Business Conditions survey, which shows used combine inventories reaching a record low. In the Technology Corner, Ben Thorpe discusses the findings of study done by the Assn. of Equipment Manufacturers, the American Soybean Assn., Crop-Life America and the National Corn Growers Assn., on the environmental benefits of precision ag technology. Also in this episode the House Ag Committee approves a $5.5B disaster aid bill that will put money in farmers' pockets, AGCO's second quarter net sales improved by double-digits and CEMA's general Business Climate Index shows European ag equipment industry sentiment dropped slightly in July.