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Farm Equipment

Reuters | Equities.com |

Deere & Co on Wednesday reported a rise in quarterly earnings, defying Wall Street estimates, as higher crop prices, government subsidy payments and replacement demand lifted sales of farm machines.

The maker of John Deere and world’s largest farm equipment producer forecast net income of $3.6 billion-$4.0 billion for fiscal 2021 as it expects to benefit from improving conditions in the farm economy and stabilization in the construction and forestry markets.