Corn, soybean and wheat production has increased 50% since 1990 while farm diesel use remained essentially unchanged due to advances in equipment and powertrain technology.
USDA increased its estimates of corn and soybean yields and wheat production in its Nov. 8 World Agricultural Supply and Demand Estimates report, which most analysts agree was another bearish sign for farm machinery sales in the year ahead.
The impact of the rapid escalation of wheat prices on the sale of farm machinery will not be felt in 2010, according to Robert McCarthy, machinery analyst for RW Baird.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.