Higher sales of big-ticket ag equipment such as combines, higher-horsepower tractors, seeders and sprayers in Canada and the U.S. are expected industry-wide in what's left of John Deere's fiscal year.
Illinois-based Deere and Co. posted that outlook Wednesday in the fiscal report for its third quarter ending July 31, in which it forecasts a 15 per cent drop in full-year sales for its combined ag and turf equipment division.
Deere added that it expects to see an industry-wide 20 per cent decrease in sales of compact utility tractors and turf equipment in the U.S. and Canada.
Across the industry, farm machinery sales in Canada and the U.S. are expected to be down "slightly" for the year, the company said, but added that sales of large tractors, combines, sprayers and seeding equipment are expected to be higher.