Deere News Updates

The challenge to ease the burden on growers is prompted by rising demand for food and materials, with an increasing world population but a shrinking number of farmers and laborers.

Sales of agricultural tractors continued their decline in October, with U.S. sales falling about 14% from the previous year, the Association of Equipment Manufacturers said in a report.

Deere said it boosted its workforce when demand surged during the COVID-19 pandemic, which roiled supply chains, only for the farm economy to start slowing.

Deere & Co. unexpectedly maintained its annual profit outlook as the world’s top tractor maker sought to cut costs in a slumping farm economy.

Deere’s fiscal second-quarter results beat Wall Street’s expectations, but the company lowered its full-year profit forecast for a second time as farmers buy fewer tractors.

Deere & Co. lifted its financial outlook for the year as machinery demand from farmers remained robust despite slumping crop prices.