Analysts: Farm Equipment Demand Will Remain Strong

Analysts recently suggested that long-term demand for agricultural equipment will remain strong, Forbes reports. Based on recent checks with equipment dealers, North American demand for the machines continues to outpace supply and most manufactures are sold out for this year.

At the same time, the companies have been able to pass along rising steel and shipping costs to their customers and used equipment prices remain strong, the article said. Dealers are remaining confident that farmers will buy equipment as long as corn prices, which currently sit at about $7.32 per bushel, don’t fall below the $5 to $6 per bushel range.