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Deere downbeat on farmers’ fluid feelings about trade policy

Earnings 638 Industrials - Capital Goods 553 Quote Watch 408 U.S. 5139

Deere & Co. reported revenues which fell by 11.0% year over year in the three months to Aug. 2 due to weak construction machinery sales. The firm has struck a downbeat outlook due to “COVID-19 as well as efforts to bring down field inventory levels” in construction machinery. Total U.S. seaborne imports linked to Deere & Co. dropped by 24.2% in calendar Q2 compared to a year earlier but climbed 4.2% in July. Agricultural machinery sales declined by less in the past quarter. President for Agriculture and Turf, Cory Reed, has stated “farmer sentiment continues to be fluid” due to “unresol...

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