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Deere drops corn price estimate

Dow Jones Newswires 05/16/2012 @ 9:11am

Deere (DE) predicts US corn prices will average $4.85/bushel this year, versus its February forecast of $5.30, while lowering its wheat view to $6.25 from $6.70 and hiking its soybean estimate to $13 from $10.50. All told, DE expects total cash receipts from US farming--a key driver for machinery sales--to be $375.3B this year; the prior forecast was $371.9B. (robert.tita@dowjones.com)

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(END) Dow Jones Newswires

May 16, 2012 10:04 ET (14:04 GMT)

DJ MARKET TALK: Deere Lowers US Corn, Wheat Price Estimates->copyright

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Corn Price ? ? Dan Waldow Waldo 05/17/2012 @ 6:50am Wondering how their track record is for these price " guess estimates " ?

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