Based on new data, and rising crop prices, it looks like farmers may be heading back to their local farm equipment dealer to make purchases soon. What might that mean?

Mike Wilson, editor of Farm Futures, discusses the factors surrounding equipment replacement, why a 7-year-old machine may need to be upgraded and some financial considerations for those in the market. And he discusses how automation and technology could make a difference in the future.

Figures from the Association of Equipment Manufacturers show tractor and combine sales on the rise. Numbers for over-100 horsepower tractors are rising and the equipment purchase trendline for 2020 far outpaces the 5-year trend.

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Related: Will grain rallies spur equipment buying spree?

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BUYING TIME? Government payments and rising grain prices may open the door to more equipment sales in 2021.