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Deere raises 2017 forecast on strong farm equipment demand


By Ankit AjmeraREUTERS - Deere & Co raised its full-year sales and profit forecast for the second time, as demand improves for its farm and construction equipment, particularly in South America, sending its shares to a record high of $122.22.The company said it expected fiscal 2017 industry sales of tractors and combined harvesters in South America to be at the high-end of its earlier forecast of about 15-20 percent rise, buoyed by improving economic conditions in Brazil and Argentina.While farmers in South America have been complaining about low prices, they have enjoyed big gains in corn ...

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First Published: Fri, May 19 2017. 23:04 IST