News

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The February USDA WASDE report isn’t known to be as impactful as the January report. The report fooled us a little, bringing very little change to South American production while making large movements to U.S. supply.

This winter has been unusually warm and dry. Snow cover during the month of February has been sparse and the month has been much warmer and drier than normal. Long-range forecasts show a likelihood that mild weather will continue into early spring. 

High input prices continue to shrink margins, leaving farmers seeking additional insurance protection to cover their bottom line. ECO and SCO are area-based coverage options that provide extra protection to farmers. 

Several years of favorable commodity prices, higher net farm income and a recovering supply chain contributed to strong sales of machinery and equipment in 2023. That trend could begin to decelerate in 2024 if lower revenue projections are realized.