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Balanced Reporting. Trusted Insights.
Thursday, May 26, 2022
Farmers' outlook improved modestly last month ahead of the Russian invasion of Ukraine, but growers remain worried about soaring input costs, according to a monthly survey.
High demand for farm equipment and issues in the supply chain mean that orders for new machinery from a number of companies are taking months to fill and prices for used equipment have gone up.
Leading farm equipment manufacturers are trying to make data collection and sharing easier with plans to launch a new interface allowing real-time data exchanges between brands.
U.S. sales of tractors and combines remained positive at the mid-year mark, with all machine categories in the plus column, according to the latest data from the Association of Equipment Manufacturers.
Despite concerns about declining farm income and dwindling commodity prices, sales of farm tractors and combines all experienced modest bumps last year.
