Deere Could Turnaround On Long Term Agricultural Equipment Sales

Given the present conditions, Deere decided to cut down production to bring it in line with current market demand. Deere also cut down its revenue guidance for the fiscal year 2014 citing the weak farm equipment demand. Earlier, it had forecast revenues to decline 4% year-on-year, but now expects to see a 6% year-on-year decline. Additionally, the company lowered its net earnings forecast from $3.3 billion to $3.1 billion.