Sales of Large Tractors Slip 9% in Weak Market

(Dow Jones) -- Retail sales of high-horsepower, two-wheel drive farm tractors in the U.S. and Canada fell 9% in September, as the decline benefited from a depressed year-ago comparison in the long-running slump in the farm machinery market. Overall, 3Q sales of big two-wheel drive tractors dropped 20% from last year, says the Association of Equipment Manufacturers. Sales of harvesting combines sank 27% last month to 621 machines, the lowest September volume in at least 25 years, JP Morgan says. September should be a strong month for combines as farmers buy equipment ahead of the fall harvest. But a glut of used farm machinery and weak prices for farm commodities have been holding down purchases of new models. Farm equipment manufacturers Deere (DE), CNH Industrial and Agco all trading lower.