Deere Bulls Delivered Somber Message From Smaller Tractor Rival
An AGCO Corp. Challenger tractor pulls an air seeder while planting canola seeds.
Photographer: Shannon VanRaes/BloombergThis article is for subscribers only.
Bullish Deere & Co. investors just got some sobering news, with smaller tractor-making rival AGCO Corp. delivering below-consensus earnings and guidance.
AGCO results and a predicted first-half loss indicate U.S. farmers remain reluctant to splash out on equipment even after Washington signed a trade truce with Beijing and billions in government aid prop up income levels and rural sentiment.