The domestic farm equipment industry should be a major beneficiary of the greatly expanded North American agricultural productivity that lies ahead. The proposed “Food for Peace” program signals that the United States will continue to respond in ever greater quantity to the food requirements of less fortunate nations. Recent years, however, have witnessed sharp reductions in our commodity surpluses—thus a considerable expansion in agricultural production will be necessary to meet our future commitments. Over the next decade, therefore, it is likely that much of the idle farm acreage will be brought back into production, and that strenuous efforts will be made to increase yields per acre. In this environment, the farm equipment industry appears to have above average growth potential.