FCC reflects optimistic outlook in coming year for farm machinery sales

Farm Credit Canada has an optimistic outlook for farm machinery sales in the coming year.

Chief agriculture economist at FCC, J.P. Gervais, says rising interest rates are a concern but buoyant grain prices should reflect a good year for the farm equipment business in 2023.

He says inventories of farm equipment will be better in the coming year.

Gervais says a key concern is farmer willingness to replace equipment at a time of rising costs.

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