- With demand for farm machinery receding worldwide, Deere (NYSE:DE) dealers and industry analysts expect incoming CEO John May to focus on cutting costs and adding new technology and data services to its equipment that will justify higher prices in the U.S., WSJ reports.
- The new tech aims to make seed and fertilizer applications more efficient, increasing crop yields and alerting farmers when equipment shows signs of breaking down.
- The focus will target U.S. farmers, pivoting from current CEO Sam Allen's emphasis on selling more of Deere's green and yellow equipment in developing markets overseas.