Too many tractors: As boom times fade, US farm equipment piles up
Used agriculture machinery inventory, the bulk of machinery sold in the United States, is on a steady increase that is forcing dealers to auction equipment at a lower price point. Photo by: Jeffrey Greenberg/Universal Images Group via Getty Images.
Falling crop prices are leaving US agriculture equipment sellers with an excess of unsold tractors and combines. To cope with the surplus, dealers are discounting machines, suspending new orders, and even auctioning off equipment at reduced prices.
The slower equipment sales are a knock-on effect of corn and soy prices dropping to more than three-year lows as U.S. farm income plummets and equipment makers and dealers are forced to pivot quickly after a period of booming business.
