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Farm equipment officials are more optimistic

Deere has reported surprisingly strong first quarter earnings, which Deere CEO John May says reflects early signs of stabilization in the U.S. farm sector.

May says farmer confidence, though still subdued, has improved due in part to hopes for a relaxation of trade tensions and higher agricultural exports.

The CEO of the Western Equipment Dealers Association, John Schmeiser, expresses similar sentiments.

“There is a lot of optimism out there from our equipment dealers—and we base that optimism on the conversations that we’re having with our customers,” Schmeiser says. “If customers are in talking about quotes, on replacing or reinvesting in their equipment, that tells us that there is interest there.

“So what we’ve seen over the past winter months is that there’s some signs of optimism out there—and that’s why we’re looking forward to a very healthy 2020.”

Schmeiser made those comments in an interview with Brownfield at last week’s Western Farm Show in Kansas City.