Why did 104-year-old farmer Donald 'Shorty' Peterson sell his 2013 Deere 8235R tractor for $183,750 — and what does this price signal about the broader used-farm-equipment market?

Shorty Peterson sold his 2013 Deere 8235R tractor for $183,750 — including an online-buying fee — because, at 104, he is retiring after more than seven decades of farming and is 'tired of the work.' The sale price was 'more than $13,000 above the highest price from this year,' according to Machinery Pete (Greg Peterson), who called it a 'strong sale'; this reflects unusually strong demand in the used-tractor market, where low inventories — the lowest in over three years as of July — have allowed buyers to absorb new supply without price erosion, especially as farmers weigh used machines against expensive new ones.

What key economic signals suggest U.S. agriculture may be emerging from a prolonged downturn — and how are they affecting farm equipment markets?

Signs of recovery include rising crop prices — corn futures jumped ~15% in August (largest monthly gain since 2021) and crossed $5/bushel, wheat rose ~20% this month, and soybeans gained >8% — driven by global supply concerns pushing corn and wheat futures to three-year highs and soybeans near their highest since 2024; this has improved farmer sentiment, boosted machinery orders (Deere reported increased orders), and strengthened used-equipment bids, even as manufacturers like Deere and CNH Industrial cut production and now cite 'green shoots' — with CNH forecasting 2026 as the bottom and Deere lifting its profit outlook.

A 104-Year-Old Farmer’s $183,000 Tractor Sale Tests a US Farm Recovery

Aug 31, 2026

A 104-year-old farmer sold a tractor for $183,750, signaling improved demand in the US agricultural equipment market. Rising corn and wheat prices are boosting farmer sentiment despite high costs, suggesting a potential recovery for Deere and CNH Industrial.

bloomberg

2026-08-31

A 104-Year-Old Farmer’s $183,000 Tractor Sale Tests a US Farm Recovery

A 104-Year-Old Farmer’s $183,000 Tractor Sale Tests a US Farm Recovery

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