Deere’s shipping could get dearer due to COVID-19 disruptions — Panjiva
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Deere’s shipping could get dearer due to COVID-19 disruptions

Ags - Fruit/Veg 102 Ags - Grains/Beans 226 China 2393 Coronavirus 256 Industrials - Capital Goods 395 Japan 477 U.S. 4229

Tractor-maker Deere & Co. has flagged “improved sentiment” among its U.S. farming customers resulting from China’s purchasing commitments related to the phase 1 trade deal. Yet, Deere has cautioned that farm exports won’t actually increase until harvest season where exports typically peak in October. In the past two years Deere’s U.S. sales growth has run ahead of agricultural exports. In fiscal 2019 Deere’s sales rose by 9.8% whereas U.S. farm exports fell by 5.7%. The firm also faces supply chain disruptions from COVID-19 in its Chinese equipment supplies. The company has therefore fac...

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