Association of Equipment Manufacturers: Farm equipment sales show gains in August

Tractor sales increased in August.
Tractor sales increased in August.
All types of farm equipment posted improved sales in August, according to a recent report.

The Association of Equipment Manufacturers said two-wheel-drive tractors saw a 10.9 percent increase in sales this August when compared to the same month last year. Four-wheel-drive machines also posted a gain of 9.5 percent.

Total sales of farm tractors were up 10.8 percent, while self-propelled combines witnessed a 9.9 percent improvement. On a year-to-date basis, four-wheel-drive tractors posted the largest percentage gain at 18.1.

In fact, the only types of machine to see sales reduced so far this year are two-wheel-drive tractors with between 40 and 100 horsepower. That equipment is down 4.7 percent.

Further improvements in sales could depend on this year's harvest, which is slated to produce near-record amounts of crops. Demand for U.S. grain may also remain elevated through the year because of an export ban instituted by Russia.

That country stopped exports of its grains because of a draught, which has damaged farm fields. However, Prime Minister Vladimir Putin said the restrictions may be lifted, depending on this year's harvest results.