Strong demand expected for farm equipment in 2023

Dec 07, 2022

Farm Credit Canada's chief economist J.P. Gervais says with a good crop in 2022, receipts for 2023 are going to rebound and that should sustain the demand for equipment.

He notes there are caveats to this positive outlook, interest rates is one of them, the cost of farm inputs overall, and the weakening Canadian dollar.

While the depreciating loonie makes new tractors and combines more expensive, it also has a positive effect on farm commodities destined for export.

Gervais feels the used equipment market is expected to stay robust for most of 2023 and into 2024.

FCC says the used equipment market has seen increased demand because of the pandemic-related shutdowns with limited availability for new equipment.

He says we've seen quite a bit of disruption in the system from problems accessing parts to equipment, but most of the indicators are telling us that, globally, the supply chains are improving.

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Video: Dicamba Returns for Georgia Farmers: What the New EPA Ruling Means for Cotton Growers

After being unavailable in 2024 due to registration issues, dicamba products are returning for Georgia farmers this growing season — but under strict new conditions.

In this report from Tifton, Extension Weed Specialist Stanley Culpepper explains the updated EPA ruling, including new application limits, mandatory training requirements, and the need for a restricted use pesticide license. Among the key changes: a cap of two ½-pound applications per year and the required use of an approved volatility reduction agent with every application.

For Georgia cotton producers, the ruling is significant. According to Taylor Sills with the Georgia Cotton Commission, the vast majority of cotton planted in the state carries the dicamba-tolerant trait — meaning farmers had been paying for technology they couldn’t use.

While environmental groups have expressed concerns over spray drift, Georgia growers have reduced off-target pesticide movement by more than 91% over the past decade. Still, this two-year registration period will come with increased scrutiny, making stewardship and compliance more important than ever.