Farmers Splurging on High-Tech Machines Eases Pain for Deere
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Uncertainty is plaguing U.S. farmers with a pandemic disrupting demand and a China trade deal up in the air. Still, they seemingly have no issue splurging on high-tech machinery, boosting Deere & Co.’s orders for some of its most profitable products.
Current orders for the high-horsepower tractors built at its Waterloo, Iowa plant -- Deere’s top moneymakers -- are up 10% from a year ago, executives said. That compares with an 18% drop in total agricultural sales.