Retail sales of high-horsepower, two-wheel-drive farm tractors in the US and Canada fell 23% in July from a year earlier, reports the Association of Equipment Manufacturers.
Sales of 4WD tractors were flat in low-volume sales, while harvesting combines were up 6%. The lackluster sales report did little to contradict the negative sales outlooks for North America offered by the equipment manufacturers. USDA today forecast better-than-expected crop yields this year. That’s likely to keep commodity prices under pressure and discourage farmers from buying equipment.