Ag News: Gas-Diesel Prices Slip and Tractor & Combine Sales Higher
**Gas and diesel prices slipped as refineries recover from Hurricane Ida, as damage from Tropical Storm Nicholas is still being assessed at refineries.
The weekly average gas price fell 1.9 cents per gallon to $3.15 and the average diesel price slipped less than a half-cent to $3.29 per gallon.
Gas demand declined for the fourth straight week as the summer driving season ends.
**U.S. tractor and combine sales saw increases last month compared to 2020, according to the Association of Equipment Manufacturers.
Combine sales posted the second straight month of growth near 20%, and total farm tractor sales climbed 9.9%.
Year-to-date farm tractor sales remain up 13.3% and combines up 13.8%.
AEM’s Curt Blades says, farmers investing in more of these machines is another indicator of that farmer optimism we’re seeing.
**In its monthly World Agricultural Production report, USDA's Foreign Ag Service indicated, "USDA estimates China marketing year 2021/22 corn production at a record 273.0 million metric tons, up 2% from last month, 5% from last year, and 5% over the 5-year average.
According to www.agrimarketing.com, yield is estimated at a record 6.5 metric tons, up 2% from last month, 3% from last year, and 5% above the 5-year average.
FAS states, the major factors are the favorable growing season conditions in China and government policies encouraging increased production.