The slowdown in the global economy has affected all sectors, and even iconic brands like John Deere have had to adjust their strategy in order to cope with the losses faced by those who have used farm equipment.
According to Business Insider, the company's insight is often presented in its earnings presentation, which helps to cement the role of John Deere as a thought leader in a sector that thrives on innovation and technological advances.
The company's presentation highlights the various impacts that both the global economic meltdown and the recent droughts that have wreaked havoc on agricultural sectors around the world will have on the prices of food and the size and yields of harvests.
The effect on the agricultural economy is yet to be seen, but John Deere has released estimates on the price of various commodities, farm cash receipts and the sector's contribution to the GDP of various nations.
According to the report, the company projects that corn, wheat and soybean prices are expected to rise this year and in 2013, and global factors could affect farmers in the Midwest.
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