Cautious farmers dim Deere’s outlook for 2020

The world's largest farm equipment maker, Deere and Co., expects sales of its agricultural equipment to decline by 5-10 percent globally in the year ahead due to lower demand for big machinery. "Lingering trade tensions coupled with a year of difficult growing and harvesting conditions have caused many farmers to become cautious about making major investments in new equipment," said chief executive John May.

Consolidation could be a factor in Deere profit jump

Analysts predict that John Deere will raise its profit forecasts for the year on Friday, despite a dismal year for crop prices. Bloomberg reports that a possible reason for the company’s rising profits could be the mechanical needs of large, consolidated mega-farms.