Deere bullish despite weather woes

Aug 16, 2012 | 04:37 PM | Corinna Petry

Tags  Deere, drought, crop yields, monsoon, farm machinery, Susan Karlix, J.B. Penn, corinna petry

CHICAGO — The persistent U.S. drought and its potential impact on some of Deere & Co.’s farm and livestock customers is "on everyone’s mind," investor relations manager Susan Karlix said during the manufacturer’s quarterly earnings call.

"The drought had minimal impact on our (fiscal) third-quarter results, and the same holds true for our fourth-quarter forecast," she said.

But as a result of conditions around the world, "global grain supplies are expected to further tighten. This supports higher commodity prices and should result in robust field activity in the 2013 crop year in markets throughout the world," Karlix said. ....

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