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.
—-