Earnings as high as an elephant’s eye. Yes, I’m being corny but corn is the big story for Deere. Deere gets about 55% of its sales from farm equipment and the company controls about 50% of the North American market for agricultural equipment. So you can see why Deere is the nearest thing there is these days to a pure play on farm incomes. When farm incomes go up, Deere sells more equipment. (Full disclosure: I own shares of Deere in my personal portfolio.)
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