Deere 1Q Profit Beats Estimates, Raises Forecast

U.S. farm equipment maker Deere & Co reported a better-than-expected quarterly profit and raised its fiscal 2017 equipment sales forecast as it expects key farm markets to stabilize this year. Deere’s sales have been hit in the past few years as bumper corn and soybeans harvests have driven down prices, leaving farmers with less cash to spend on equipment.