Photo: Deere & Co.
Deere missed third quarter earnings estimates because of the slowdown in the global economy and manufacturing inefficiencies. As one of the world’s foremost agricultural equipment makers the company’s earnings presentation always offers insight into developing trends in agriculture.
We drew on their presentation to highlight everything from commodity price estimates, to farm cash receipts which help gauge agriculture’s contribution to GDP, the impact of the north American drought, and the outlook on the broader agricultural economy.
Deere projects that corn, wheat and soybean prices are expected to continue to rise this year and the next. Its presentation also points out how drought impacts corn yields, that farmers in the EU are still positive, and that weak monsoons in India are lowering grain output.