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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