Moline, Ill.-Deere & Co. recently told analysts that it has had to increase its guidance for agricultural equipment sales in the U.S. and Canada, which are now forecasted to be up 5-10 percent for 2010. “That’s quite a change from our February forecast of comparable to 2009 and our November 2009 forecast of down about 10 percent,” said Susan Karlix, manager, investor communications. “We continue to see our order books strengthen, especially for large ag equipment. She said conditions in Western Europe still remain weak and sales are expected to be down 10-15 percent, while South America is another bright spot, with a 25 percent projected increase. Deere also expects to see a 5-10 percent increase in small utility tractors and turf equipment in the U.S. and Canada. Deere sales worldwide for ag and turf are expected to be up 9-11 percent over previous forecasts of 4-6 percent. For the second quarter ending April 30, 2010, Deere reported net income attributable to Deere & Co. of $547.5 million ($1.28 per share), up from the year-ago $472.3 million ($1.11 per share). Income would have been $677 million in the second quarter except for a $129.5 million charge due to the enactment of new health care legislation in the U.S.
Transparency Across the Fertilizer Value-Chain