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Deere & Co. Raises Forecasts Due to Crop Rally

Deere & Co. (DE), the world’s largest farm-equipment maker, raised its fiscal 2011 earnings forecast and posted second-quarter profit that beat analysts’ estimates amid increasing demand for agriculture and construction equipment.

Earnings will be $2.65 billion in the year through October, more than the $2.5 billion forecast in February, Moline, Illinois-based Deere said today in a statement. The average analysts’ estimate in a Bloomberg survey was for profit of $2.67 billion, or $6.26 a share.”

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