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AEM United States Ag Tractor and Combine Report March 2021

Association of Equipment Manufacturers
·1 min read

MILWAUKEE, April 12, 2021 (GLOBE NEWSWIRE) --

March

YTD - March

Beginning
Inventory

2021

2020

%Chg

2021

2020

%Chg

Mar 2021

2WD Farm Tractors

< 40 HP

22,764

11,585

96.5

43,726

26,619

64.3

63,645

40 < 100 HP

6,365

4,019

58.4

14,422

10,625

35.7

24,694

100+ HP

1,861

1,138

63.5

4,407

3,089

42.7

6,794

Total 2WD Farm Tractors

30,990

16,742

85.1

62,555

40,333

55.1

95,133

4WD Farm Tractors

203

198

2.5

600

544

10.3

516

Total Farm Tractors

31,193

16,940

84.1

63,155

40,877

54.5

95,649

Self-Prop Combines

382

358

6.7

926

795

16.5

878

The AEM Ag Tractor and Combine Report is provided monthly and is derived from AEM member companies through proprietary statistical reporting programs. The data is provided by AEM members and represents preliminary monthly retail sales of Ag equipment. Separate reports are available for the U.S., Canada and Russia. For more information, please visit: https://www.aem.org/market-data/statistics/us-ag-tractor-and-combine-reports/. Attention Media: To speak with an AEM spokesperson about the data, please contact Sandra Mason at smason@aem.org.


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A National Security Council spokeswoman did not reply to a request for comment.The People’s Bank of China has rolled out trial issuance of a digital yuan in cities across the country, putting it on track to be the first major central bank to issue a virtual currency. A broader roll-out is expected for the Winter Olympics in Beijing next February, giving the effort international exposure.Many key details of the digital yuan are still in flux, including specifics on how it would be distributed. China’s recent establishment of a joint venture with SWIFT, the messaging nexus through which most cross-border settlements pass through today, suggests it is possible a digital yuan could work within the current financial architecture rather than outside of it.U.S. officials are reassured that China’s intentions aren’t to use the digital yuan to evade American sanctions, according to people familiar with the matter. The dollar’s current dominance in cross-border transactions gives the U.S. Treasury the power to cut off much of a business or even a country’s access to the global financial system.China’s officials have said the main intentions of the digital yuan are to replace banknotes and coins, to reduce the incentive to use cryptocurrencies and to complement the current private-sector run electronic payments system -- dominated by Ant Group Co.’s Alipay and Tencent Holdings Ltd.’s WeChat Pay. The PBOC has been working for years on the digital yuan, also called the e-CNY, having set up a specialist research team in 2014.Here’s How a Central Bank Digital Currency Could Work: Chart​​“To provide a backup or redundancy for the retail payment system, the central bank has to step up” and provide digital-currency services, Mu Changchun, the director of the PBOC’s digital-currency research institute, said at an event last month.Beyond seeking a backup to privately run e-payments, Chinese regulators have more broadly been expanding their oversight of the country’s digital champions. Ant Group was told by Beijing to become a financial holding company, which will be regulated more like a bank. China also imposed a $2.8 billion antitrust fine on Ant’s affiliate Alibaba Group Holding Ltd.Read More: Ant to Be Financial Holding Firm in Overhaul Forced by ChinaThe PBOC is also examining the potential for using the digital yuan in cross-border payments, launching a project studying the issue with a unit of the Bank for International Settlements along with the United Arab Emirates, Thailand and Hong Kong’s monetary authority.The Biden administration isn’t currently planning to take any action to counter longer-term threats from China’s digital currency, the people familiar with the discussions said. However, China’s plans have given renewed impetus to efforts to consider the creation of a digital dollar, they said.Members of Congress have also been increasingly interested in a digital dollar, aware of China’s moves, and asked Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen about the issue in hearings earlier this year.Powell: Need for Digital Dollar Is an Issue for Congress, PublicPowell said in February the Fed was looking “very carefully” at a digital dollar. “We don’t need to be the first. We need to get it right.”Yellen has signaled interest in research into the viability of a digital dollar, a shift from a lack of enthusiasm under her predecessor, Steven Mnuchin.“It makes sense for central banks to be looking at” issuing sovereign digital currencies, she said at a virtual conference in February. Yellen said a digital version of the dollar could help address hurdles to financial inclusion in the U.S. among low-income households.A recent report from the U.S. Director of National Intelligence said the extent of the threat of any foreign digital currency to the dollar’s centrality in the global financial system “will depend on the regulatory rules that are established.”China’s currency makes up little more than 2% of global foreign exchange reserves compared with nearly 60% for the U.S. dollar. Policy decisions, rather than technical developments, will also be necessary to push forward yuan internationalization, as China maintains a strict regime of capital controls.China’s financial system is too “fragile and weak” to pose a real threat to the dollar’s status as the world’s reserve currency, according to Mark Sobel, U.S. chairman for the Official Monetary and Financial Institutions Forum.“At the end of the the day the markets have more confidence in the Fed” than China’s central bank, said Sobel, a former senior U.S. Treasury official for international matters.(Adds reference to China’s regulatory measures in 10th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

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