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Shining Light on Farm & Food Policy for 20 Years.
Monday, December 23, 2024
Farm equipment suppliers such as Deere & Co. have been shedding jobs and other agribusiness giants are reporting weaker business prospects in North America, a potential harbinger of continued softness in farm income as producers head out to harvest crops this fall.
Deere and Co. doubled its operating profit from production agriculture in the latest quarter, expecting row-crop farmers to be “very profitable” this year and making money well into 2024 due to the historically strong commodity markets.
Deere and Co. saw its earnings soar by 75% in the latest quarter, driven by strong demand for combines and other large farm machinery, and the company sees continued strong performance over the next year.
