USDA's Ag Outlook Forum and Ag Equipment Downward Trend

USDA's Ag Outlook Forum and Ag Equipment Downward Trend

Bob Larson
Bob Larson
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**The USDA’s 100th annual Ag Outlook Forum is set for February 15-16 in Arlington, Virginia.

The theme “Cultivating the Future,” features information farmers and ag stakeholders should find useful.

USDA’s Chief Economist will unveil its outlook for the domestic ag economy in the new year.

Ag Secretary Tom Vilsack will highlight the history and evolution of U.S. ag while painting a vision for the future.

**USDA says export sales of corn and wheat dropped week-to-week for the week ending December 14.

Corn sales were reported just over 1 million metric tons, down 29% from the previous week and 33% from the four-week average.

Wheat sales totaled nearly 323,000 metric tons, 78% below the prior week and 51% below average.

Mexico and Japan were the biggest buyers for both.

**The ag equipment market began a downward trend last year and dealers worry 2024 might be their roughest year since COVID in 2020.

The new “Dealer Business Outlook and Trends Report” shows a significant drop in optimism in new and used whole goods revenue forecasts, but parts and service forecasts record highs.

There is some hope based on healthy farm financials and commodity prices, but how much cash farmers will bring into the new year remains in question.

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