Farms.com Home   Farm Equipment News

Soft Commodity Prices Might Mean Slower Equipment Sales

There have been some challenges for farm equipment sales over the last couple of years, according to the CEO of the Western Equipment Dealers Association.
 
John Schmeiser says there was an incredible run of equipment sales from 2007 to 2014, and a lot of customers have re-invested in their machinery.
 
"At this point in time, because we've seen some softening in the commodity prices, they don't have to make that reinvestment," he says, "but having said that, in areas where there are lentils being grown — where the commodity price is still fairly strong — we are seeing a lot of sales activity. And what's really promising for us is we're still seeing a lot of quoting on deals."
 
On the manufacturing side, Schmeiser says they are seeing more new products rolling out to meet consumer demands for more production and better technology.
 
Source : Portageonline

Trending Video

U.S. HRW Wheat 70% in Drought with NO Rain for 5 days + More Frost!

Video: U.S. HRW Wheat 70% in Drought with NO Rain for 5 days + More Frost!


NOAA reported that U.S. HRW wheat was 70% in a drought ties the 2022 drought! USDA crop progress reported 47% of the HRW wheat in poor/very poor. The weather forecast looks wet and cool for the U.S. Midwest with snow for the Canadian Prairies. Central Brazil Safrinha corn crop looks dry for the next 2-weeks. Rumors that China was looking to but old crop U.S. soybeans out of the PNW. Kalsi (betting platform) has entered the commodity space with bets of where corn futures will be in the future. Trump extended the Iran ceasefire indefinitely, but blockade remains while the ceasefire with Isreal and Lebanon was extended by 3 weeks + CFTC.