According to the latest Crop Progress report from USDA, 11% of corn in the U.S. was reported dented in the week ended August 9, above the 6% reported dented this time last year.
Farmer sentiment in July was virtually unchanged from a month earlier as the Purdue University-CME Group Ag Economy Barometer rose just one point to a reading of 118. The small change in the barometer left it 30% below its February 2020 peak and 23% below its level a year ago.
The latest Crop Progress report from USDA showed 92% of corn silking in the week ended Aug. 2, surpassing the 72% of corn reported silking in the same week last year, and the 5 year average of 87%.
For the week ended July 26, USDA's latest crop progress report showed 82% of corn silking, more than the 51% reported silking this time last year and the 5 year average of 75%.
The latest USDA crop progress report showed 59% of corn crops were silking in the week ended July 19, ahead of the 30% reported silking in the same week last year.
July and August are critical time periods for determining U.S. corn and soybean yield potential and this year is no exception. However, the COVID-19 pandemic also is creating high levels of uncertainty in the grain and livestock markets.
Overall unit sales of agricultural tractors and self-propelled combines in June 2020 rose in the U.S., and for the first time this year, grew in Canada as well according to the latest data from the Assn. of Equipment Manufacturers (AEM).
The latest Crop Progress report from USDA shows 31% of soybeans were reported blooming in the week ended July 5, almost four times the 8% reported blooming in the same week last year.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we look at President Trump's tariff reduction on ag equipment, the latest dealer sales forecasts, and how high input costs are keeping farmer sentiment down.
Since 1980, A&I Products has become a leading manufacturer and wholesale distributor of aftermarket replacement parts for the agricultural, turf, and industrial equipment markets. A&I Products' experience and expertise has greatly contributed to the company's reputation as a top supplier of quality, reasonably priced parts. Founded with roots as a small machine shop and repair facility, the company made the transition by manufacturing new parts to replace those that were identified as commonly needing repair. Throughout the 1980s, the company quickly garnered a reputation for offering quality parts at a reasonable price.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.