J Deere results have benefited from high crop prices and the company sees high crop prices persisting in 2012.
"Farm conditions are strengthening in the European and [former Soviet Union] markets," Deere said.
Demand was being supported by the "solid levels of income" farmers were enjoying, thanks to high crop prices.
"Farm commodity prices have escalated sharply since the beginning of the year, lending further support to the outlook."
Deere edged higher forecasts for agriculture sector net income in Argentina, by $200m to $7.8bn, and Brazil, by $1.8bn to $25.5bn, while lowering by $5.3bn to $110.5bn its estimate for net cash income to US farmers
No comments:
Post a Comment