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# America is growing far more corn than anyone expected, and Deere had its worst week in two years
- URL: https://www.sharespective.com/stories/america-growing-far-more-corn-anyone-2026-10-12/
- Published: 2026-10-11T21:15:02.000Z
- Updated: 2026-10-19T19:29:22.000Z
- Description: Deere fell 4.85% to US$620.93 on Friday. That left the tractor maker 9.6% lower for the week, its worst since August 2024.
- Author: Shaun Botha
- Tags: Agriculture, #story, #group-other, Deere

Deere fell 4.85% to US$620.93 on Friday. That left the tractor maker 9.6% lower for the week, its worst since August 2024.

**The trigger was a bumper corn crop.** On Friday the US Department of Agriculture raised its corn yield estimate by 2.7 bushels an acre, to 181.2\. The market had expected a cut, to 177.7.

That puts the harvest at 16.03 billion bushels, the second-largest American crop on record. Corn futures fell sharply, and AGCO and CNH Industrial, Deere's two big listed rivals, each lost about 5% on the day.

[![Chart: Deere's value outran its shrinking sales. Deere's revenue by financial year and its market value at each year end and at Friday's close, in US$bn on one scale. Sales fell from 61.3 in 2023 to 45.7 in 2025.](https://storage.ghost.io/c/02/71/0271df32-cec6-421f-9f13-b06ab90e54c1/content/images/2026/10/chart-america-deere-revenue-market-2026-10-12-wide-light.jpg)](https://www.sharespective.com/chart-america-deere-revenue-market-2026-10-12/) 

This story’s chart of the day: the numbers, the dark version and the animated version are on its own page. [The chart’s page →](https://www.sharespective.com/chart-america-deere-revenue-market-2026-10-12/)

Cheaper corn leaves farmers with less to spend on a new harvester. Deere also has a regulator to deal with. On Wednesday the Federal Trade Commission and the agriculture department opened a joint inquiry into how farm equipment is sold and repaired, with comments open until 7 December.

The fertiliser makers had a rough week too. Mosaic fell about 11% to US$18.74 after RBC Capital Markets downgraded it on Monday, citing a slow recovery in phosphates.

Boiled down 

a bigger harvest means cheaper corn, and cheaper corn means smaller farm budgets next year. The equipment makers' order books will show that before their profits do.

[ This story ran in Harvest Season Monday 12 October’s edition, with the market snapshot, the other two stories, the numbers and the week ahead. Read the whole edition → ](https://www.sharespective.com/sharespective-2026-10-12/)