USDA's latest World Ag Supply & Demand Estimates (WASDE) on August 10 further confirmed what most farmers, dealers and equipment manufacturers already knew: 2012 will be a lousy year for crops, but fairly decent for farm incomes mostly due to rising commodity prices and the high use of crop insurance.
While the drought throughout the Midwest grain-producing region of the U.S. has industry observers speculating about its impact on farm machinery sales for all of 2012, North American retail sales have more than held its own through June and the first six months of the year.
Ernie Goss says his research finds the drought hitting beyond the farm field, impacting other businesses like ethanol plants and farm equipment dealers.
Depending on the part of the country where the dealer is located, his or her responses to "How is your business looking?" can differ somewhat, but it's clear that the drought has caught everyone's attention
While the drought in the U.S. is bullish for crop prices, it’s taking its toll on farmer sentiment, which can be equally important when it comes to equipment buying decisions.
Today, USDA reported that for the sixth week in a row, and the seventh of last seven weeks, the condition of the U.S. corn crop continued to deteriorate.
Earth has done an ecological about-face: Global plant productivity that once flourished under warming temperatures and a lengthened growing season is now on the decline, struck by the stress of drought.
During the 2012 Farm Equipment Manufacturers Assn. (FEMA) Spring Clinic in Biloxi, Miss., on March 28-30, Ag Equipment Intelligence met with executives from the supply chain to gauge their insights into what wholegoods manufacturers' build schedules look like.
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