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John Deere CEO outlines progress made by company in first quarter

Thursday, May 17, 2012

The success that has been achieved in the agricultural sector thus far in 2012 has spread feelings of optimism to all levels of the industry.
The success that has been achieved in the agricultural sector thus far in 2012 has spread feelings of optimism to all levels of the industry.

The success that has been achieved in the agricultural sector thus far in 2012 has spread feelings of optimism to all levels of the industry, as everyone from local farmers to the chief executive of John Deere have noted the bright future for farming in the U.S.

According to a release from John Deere, the company's increased equipment sales have occurred due to significant growth in the industry, both in the U.S. and abroad. Along with this rise in the number of people who have used farm equipment from the company, the innovative approach to new products has propelled the agricultural firm forward.

"These investments are essential to the success of our longer-term growth objectives, which we believe are firmly on track," Samuel Allen, the company's chief executive, said in a statement. "They also put Deere in a sound position to respond to a rising global need for food, shelter, and infrastructure in the years ahead. In our view, these powerful trends have considerable staying power and should prove highly rewarding to our customers and investors."

According to Forbes, American farmers planted the largest corn crop since 1937 and this led to increased farm revenue.
 

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