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John Deere Stock Sees Significant Drop

UNITED STATES  --  Deere and Company's stockholders aren't happy with the latest sales report.

Just moments after a second straight lower than expected sales quarter, the company stock dropped more than 7% at one point on Friday before being able to recover a bit.

Bumper corn and soybeans harvests in the U.S. have driven down crop prices, leaving farmers with less cash to spend on farm equipment.

Deere was able to raise its full year equipment sales forecast.